This blog will outline the top 3 things to expect in the UK real estate industry this year.

1. Renters Reform Bill Progress Update: The Renters Reform Bill is expected to come into effect in 2024. It is important for estate agents and landlords to stay ahead of a dynamic political and financial calendar. Agility and opportunism will prove advantageous in navigating the upcoming year.
2. Mortgages Decline, Rent on the Rise: According to Goodlord, a slight fall in mortgage rates is expected in 2024, but rents are likely to continue increasing. Therefore, estate agents and landlords should explore strategies for adapting to these market dynamics in the new year.
3. Navigating Changes for Independent Letting Agencies: Technology can make setting up independent letting agencies easier. It is essential to retain landlords, stock and key staff for the success of independent letting agencies. More landlords are preferring localised, smaller agents.

The information in this post is valid to the best of our knowledge on the date of posting. It is advised that you seek independent advice based on your individual circumstances.

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