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Inside Residential

Issue 3: June 2023

Inside Residential

Editor's Note

Dee Aylward - Mishcon de Reya

Despite fears of a housing crash following last year's mini budget, this has so far not materialised in 2023. Going into summer, we have seen a recent increase in new instructions of high value properties, although buyers and sellers continue to remain cautious. New clients are often based overseas, purchasing a London property as a second home, or for investment.

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UK Seaside

Short term lets or short term frets?

The Department for Levelling Up, Housing and Communities ('DLUHC') has published a consultation on the creation of an additional use class "C5 – short term lets" together with permitted development ('PD') rights to provide flexibility, where there are no local issues with these uses. The new use class "C5" will be distinct from the existing use class relating to dwelling houses ("C3"). The consultation's proposed changes will not apply to hotels, hostels or bed & breakfasts.

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