We start our top ten of 2023 with this piece from Cat Armstrong at Dynamo for Intermediaries who explored the notion that keeping off the government’s radar during a Budget isn’t necessarily a bad thing. No news is always an editor’s worst nightmare, but sometimes it’s a blessing for landlords.
10: Why no news is good news for landlords during the budget
The results of a survey from property bridging finance broker, Finbri revealed that, just four months ahead of its introduction to Parliament in May, over 40% of landlords were still in the dark about the Renters’ (Reform) Bill. Our ninth-most-read article of the year also highlighted the concerns of those landlords who were aware.
9: Renters’ Reform Bill likely to increase pressure on landlords
Unelected Prime Minister, Rishi Sunak, managed to delight some landlords with another screeching u-turn in September when he ‘softened’ several green policies, including minimum EPC standards for rental properties.
However, the landlords who had already spent thousands on upgrades and those who couldn’t afford them and left the sector, as a result, would probably take some convincing to vote Tory again. Our number eight.
8: EPC upgrades scrapped in latest government U-turn: Industry reacts
Another reversal of policy from the government came in as our seventh most-read article of the year, with Chancellor Jeremy Hunt announcing during the Spring Budget that Corporation Tax was to rise to 25% – the highest level since 2012. Embattled landlords could be forgiven if they failed to see how the government was allaying any fears that it was ‘anti-landlord’.
7: Budget 2023: Blow for portfolio landlords as Hunt confirms corporation tax rise to 25%
The pandemic and subsequent effects of lockdown saw a huge rise in the number of people moving out of the capital and was further compounded by the popularity of hybrid working and the sort of house prices that would leave most first-time buyers in a state of mesmerised terror.
Much had already been written about how many were fleeing London, but our sixth most-read article of the year showed which hills they were all heading to.
6: London’s mass exodus: where are they all going?
Ritchie Clapson’s opening line in this piece about flipping properties in 2023 is a clear indicator of why it features on this list. This analysis of the practice of buying a property below market value, and then increasing its value with improvements and redecoration before selling it on for a profit obviously resonated with our readers this year who thought it was flipping brilliant.
5: The pros and cons of flipping property in 2023
Number four on the list takes us all the way back to February, a month which saw the resignation of Nicola Sturgeon, secondary school pupils rioting on TikTok about the use of toilets during lesson times, and ‘Flowers’ by Miley Cyrus (no, me neither) continuing its assault on the charts.
It was also a time when interest rates were slowly beginning to settle following a particularly turbulent period for mortgage holders and this article by onlinemortgageadvisor highlighted some considerations for those weighing up their options.
4: Things to consider regarding recent mortgage rate decreases
Making the top three, a story from the very start of the year from London lettings and estate agent, Benham and Reeves who revealed that despite demand for homes in the capital largely dwindling during Q4 2022 due to higher financing rates, homes at the very top end of the property market food chain were being snapped up at pace.
London’s ‘super-prime’ market really is a separate entity, driven by quality rather than quantity and bolstered by demand from foreign buyers seemingly unphased by any rises in borrowing costs.
3: Demand for super-prime homes in London continues to grow
With the UK property market on fairly shaky ground at the start of the year, prospective BTL investors could be forgiven for wondering if this was their year or not. However, the slowing market and a significant shortage of rental stock could also be seen as advantages for the right investors and were just two of the reasons given by Emma Wells in her article advocating buy-to-let investment in 2023.
2: 5 reasons why 2023 might be the right time to invest in buy-to-let
In our top story of the year, managing director of Blend Network, David Alcock, called for the government and housing industry to increase their support for the housebuilding sector following a dire warning from the IMF that the UK was expected to be the only country across all advanced economies to shrink during 2023.
With housing shortages one of the UK’s most stubborn challenges, the long-term supply of affordable housing would be severely threatened should property developers have to tighten their belts further. A ticking time bomb indeed.
