Welcome to Edition #2 of our Weekly Property Roundup for Friday 22 June 2018, where we’ve done the hard work sifting through the week’s most relevant news so you as a landlord, tenant or investor can be confident you’re up to date with everything you need to know in the property world.
This week we share how we’re already ahead of new industry legislation, the status of the property market two years on from the Brexit vote, and new research showing Edinburgh is one of the UK’s top performing cities for buy-to-let yields.
DJ Alexander already compliant with client protection measures
In light of recent news that letting agents are no longer required to have in place two client money protection measures by the end of September registration deadline, DJ Alexander can reassure its landlords and tenants that it holds both.
The Scottish Government previously required all new and existing letting agents to hold a separate client money account as well as client money protection insurance by 1 October 2018, the deadline for registering with the new Scottish Letting Agent Register. Without these measures, agents faced trading unlawfully and being fined.
While the Government has announced it no longer requires these measures at the time of registration after recognising that numerous letting agents were experiencing difficulties being granted these from banks and lenders, it has not yet specified a timeframe following registration that agents must be compliant.
This is just another way DJ Alexander affirms its commitment to being a professional, compliant and industry-leading letting agent ahead of the legislation.
The property market 2 years on from the Brexit vote
This Sunday marks two years since the UK made the historic decision to leave the European Union (EU).
Political implications included David Cameron announcing his resignation as Prime Minister, Theresa May being appointed his replacement, the triggering of Article 50, a general election where the Conservative Party lost its majority and the subsequent formation of a minority government.
But what about the implications to the wider property sector and investor community?
This article concludes we’ve seen a resilient economy supported by investors, property remaining a leading investment class, and alternative finance growing in popularity.
At DJ Alexander we concur with this analysis, noting the strength and resilience in particular of Scotland’s property industry that doesn’t seem to be slowing down any time soon.
Edinburgh a top performer for rental yields
Edinburgh has been ranked as one of the best cities in the UK for buy-to-let yields, according to a recent analysis of nearly 600,000 properties.
Edinburgh appeared five times in the nation’s top 25 postcodes for rental yields – EH8 (10.6%), EH11 (8%), EH12 and EH9 (both with 7.9%), and EH16 (7.7%)
G11 in Glasgow also featured in the list, with an average yield of 7.2%.
Given the study found ‘university cities’ performed strongly, Edinburgh’s results are unsurprising given the city’s student population was nearly 70,000 in 2017.
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