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Merry Christmas and a Happy New Year to all our clients and customers.
2022 has been another busy year across the Gateway Group at our HQ, London and Leeds offices. We wish you happiness and cheer over the festive season, and good health for the New Year. We’ll return in 2023 to share the latest on Property Matters.
Our offices are open as usual to support you. Do get in touch should you need to.
One in 10 homes on the market has reduced its price by 5%, reports Zoopla, the property website, following two and half years of boom and record-high increases.
As the market cools, the trend has been for sellers to accept discounted prices to complete a house sale. Rightmove, another property website, announced the largest pre-Christmas dip over the last four years, citing an average 2.1% drop. That puts the average asking price for a UK home at just over £359,000 in early December, some £7,850 less than in November. This is a percentage fall similar to that quoted by building society Halifax in November of 2.3%. Others report up to a 3% drop.
Taken in context, however, the average asking prices at the end 2022 are still over 5.5% higher than this time last year. Rightmove also reports an 11% increase in the number of homes for sale on its website compared with last December, predicting a more even balance between supply and demand next year.
The Fire Safety Act 2021 and Fire Safety (England) Regulations 2022 has been introduced as an important step towards implementing the recommendations of the Grenfell Tower Inquiry Phase 1 report. The Regulations are being introduced under Article 24 of the Fire Safety Order.
The Act clarifies that responsible persons for multi-occupied residential buildings must manage and reduce the risk of fire for the structure and external walls of the building, including cladding, balconies and windows, and entrance doors to individual flats that open into common parts.
These new regulations introduce additional requirements on responsible persons, aimed at identifying and communicating fire risk information to those who need to know about the risk. This includes providing fire risk information regarding evacuation procedures to residents in a format they will understand.
Here’s everything you need to know about The Fire Safety Act 2021 and Fire Safety (England) Regulations 2022.
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