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Under the skin of the letting market

Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.

Our response to the budget

“The £3.5bn of capital for shared equity schemes for new houses and the £130bn of guarantees to help people afford a mortgage are good ideas and we hope they work. However they serve mainly to try to stimulate the buy-side part of the housing equation. We are disappointed not to see policies which attempt to stimulate supply by providing greater incentives for developers to build new housing units.”

“We have over a million more people in the Private Rental Sector than five years ago and there seems to be a cry from stakeholders to increase standards of property accommodation. So it is a shame that the Budget has missed a trick: if the Chancellor allowed ‘improvements’ to rental property to be tax deductible from letting income for 3 years (currently ‘repairs’ are permitted but ‘improvements’ are not), then landlords would be more motivated to invest in the nation’s rental stock and tenants would benefit. We believe this would have more impact than the forthcoming Green Deal.”

“Without GDP growth there just isn’t the funds to re-invest in the country. The Budget seems largely anodyne and contains little to tackle the growing fear of rising inflation and savings being destroyed in value. Consequently we expect the small but focused minority of landlords looking to re-invest in property to increase in number.”

Infographic from HM Treasury