Last month, the Royal Institution of Chartered Surveyors (RICS), The Building Societies Association (BSA) and UK Finance agreed a new industry-wide valuation process for buildings more than six storeys high.
That is because following its recent consultation, the government has announced that it will soon become unlawful to continue to let a non-domestic property with an EPC rating below B, a move that the government estimates could cost approximately £5bn between now and 2030.
In what they have described as “the biggest change to the private rental sector for a generation”, the government has unveiled plans to hold a consultation on their proposal to abolish “no-fault evictions” under Section 21 of the Housing Act 1988.
On 4 March, Her Majesty’s Revenue and Customs (“HMRC”) announced that they had imposed a £215,000 fine on Countrywide estate agents for failing to register the company as required under the Money Laundering Regulations 2017. This announcement was swiftly followed by the publication of the Treasury Committee report on economic crime on 8 March, where estate agents came in for stinging criticism for failing to have proper regard to money laundering compliance and risk assessment in their dealings.