Published: 27/06/2021 By Tam van WykThe sun’s out, the temperature is rising and our cold wet spring is now a distant memory (or was)! It’s all adding to the feelgood factor that has been building while we ease our way out of lockdown. In almost every sector of the economy, things are picking up - shop tills are ringing, bars and restaurants are buzzing and Euro football fever is starting to build.
And, that feelgood factor includes the property industry. In fact, thanks to the Stamp Duty Holiday, the property market was one of the first areas to feel its effect. London had been the exception, lagging a little behind the rest of the country, but it too is now joining the party! Even the emergence of the Delta Covid variant hasn’t damaged the mood. Housing supply levels, though, are an issue. So, if you have a place that you would like to sell (or rent) please let us know and we can set you on the right path.
For those in the lettings sector, there have been a number of recent changes you should be aware of. As I mentioned in May’s e-zine, the eviction ban has now come to an end. In addition, notice periods for both Section 21 and Section 8 Notices have been reduced. A Section 21 Notice is served when landlords wish to regain possession of a property, for example, if they want to sell. Their required notice periods have fallen from six months to four. Section 8 Notices are used for regaining possession of a rental property when there’s been a breach of contract, which includes rent arrears. Their notice periods have been reduced from four months to two. The courts, however, are likely to be extremely busy over the coming months as they clear their backlogs and the Government is asking for priority to be given to cases involving fraud or anti-social behaviour.
Well, that about wraps it up for this month. I hope you get the chance to enjoy the sunshine. If you do, don’t forget the sunscreen.