PS&B is proud to celebrate a momentous milestone in 2025 – its 200th anniversary. Founded in 1825 by Joseph Parsons as an auctioneer at 96 North Street in Brighton, PS&B has grown to become a trusted name in the South East of England, with offices in Brighton, Portsmouth and Bognor Regis.

To celebrate this significant milestone, PS&B is launching its 200 Acts of Kindness campaign, a year-long initiative dedicated to giving back to the communities that have supported the company over the years. Throughout 2025, PS&B will complete 200 meaningful acts of kindness in support of causes close to its heart, with each office selecting a charity of the year: My Sister’s House, Clock Tower Sanctuary and Phoenix Rehoming. These organisations were chosen for their significant contributions to the community, each creating lasting, positive change. The acts of kindness will range from fundraising bake sales and donation drives to environmental initiatives, all designed to make a tangible, positive impact on the communities they serve. Through this campaign, PS&B hopes to inspire others to join in, making the world a better place, one act of kindness at a time.

‘We are incredibly proud to celebrate our 200th anniversary, and we wanted to mark this milestone not only by reflecting on our past achievements but also by looking to the future and continuing to make a meaningful difference in the communities that have supported us.’ said Karen Baker, Chief Business Development Officer at PS&B. ‘The 200 Acts of Kindness initiative is our way of giving back and continuing to spread positivity. We’re excited to bring these acts to life and hope to inspire others to do the same.’

Throughout 2025, PS&B invites everyone to follow the campaign’s progress on social media and get involved in spreading kindness. The company hopes its efforts will encourage others to participate, creating a ripple effect of goodwill across the region.

For further information on PS&B’s 200 Acts of Kindness campaign, please follow PS&B on LinkedIn.

About PS&B

Established in 1825, PS&B is part of the Blue Bombini Group which comprises PS&B, Spratt & Son, Carr & Priddle and Lease X, and is a leading entity in the property services sector.  With offices in Brighton, Portsmouth, Worthing and Bognor Regis the group specialises in block and estate management, property solutions, residential and commercial sales and lettings, auctions, lease extensions, surveying, valuations and insurance.

As we move into 2025, the property sector is preparing for significant legislative changes that will have a far-reaching impact on homeowners, tenants, and landlords across the UK. With a new government in place, these changes reflect Labour’s pledge to reform housing laws, offering greater security for renters, addressing the leasehold system, and adjusting taxes for property buyers.

Here’s an overview of the major property laws and regulations that are expected to shape the housing landscape in 2025.

Renters’ Rights Bill

One of the most anticipated changes coming in 2025 is the introduction of the Renters’ Rights Bill, which promises to overhaul tenancy laws in England. The bill fulfils a key pledge from the Labour Party’s manifesto, aimed at transforming the private renting experience for the nation’s renters and landlords.

The central objective of the Renters’ Rights Bill is to provide renters with greater security and stability, reducing the risk of homelessness and making it easier for tenants to stay in their homes long-term.

The most significant change is the abolition of Section 21 ‘no fault’ evictions, meaning landlords will no longer be able to evict tenants without a valid reason. This will offer renters greater protection from arbitrary eviction. Additionally, tenants will be safeguarded from eviction during the first 12 months of their tenancy, provided they follow the terms of their lease. If landlords wish to sell or move into the property after this period, they must give at least four months’ notice.

The bill will also empower tenants to challenge unreasonable rent increases, limiting landlords to one rent rise per year, with clear notice requirements. Tenants can contest increases they believe exceed the market rate through the First-tier Tribunal. Furthermore, the bill aims to end rent bidding wars by preventing landlords and agents from accepting offers above the advertised price.

Finally, the bill includes provisions for pet ownership, ensuring landlords cannot unreasonably deny tenants the right to keep pets. If permission is refused, tenants will have the right to challenge the decision, and landlords can request insurance to cover potential pet-related damage.

Leasehold and Freehold Reform

The government is also making strides in reforming the leasehold system, which has been criticised as outdated and unfair. The Leasehold and Freehold Reform Act 2024 is set to bring significant changes to leasehold properties, which currently account for around five million homes in England, mostly flats and apartments.

The first major reform is the abolition of the ‘two-year rule,’ which currently requires leaseholders to wait two years before they can buy the freehold or extend their lease. This rule will be removed, enabling leaseholders to take action sooner.

Additionally, new ‘Right to Manage’ measures, set to take effect in spring 2025, will allow more homeowners in mixed-use buildings to take control of their property management, bypassing freeholders who may not be acting in their best interests. Leaseholders will also benefit from protection against having to cover freeholders’ legal costs when pursuing claims, making it easier and more affordable to challenge unfair practices.

Finally, the government plans to introduce a draft Leasehold and Commonhold Reform Bill later in 2025, which will aim to replace the leasehold system with a more modern commonhold system. Under this system, each flat or apartment would be owned as a freehold, with shared spaces managed by a commonhold association composed of property owners.

Stamp Duty Changes

In addition to reforms for renters and leaseholders, the property market will also experience changes to the stamp duty system starting in 2025. Stamp duty is the tax that buyers pay when purchasing property, and adjustments to this tax are set to affect both first-time buyers and second-home purchasers.

Stamp duty changes for 2025 will affect both second-home buyers and first-time buyers. From 31 October 2024, the additional stamp duty rate for second homes and landlords has risen from 3% to 5% for properties priced between £40,000 and £250,000.

First-time buyers will continue to be exempt from stamp duty on properties valued up to £425,000 until 31 March 2025. However, properties above this threshold will incur a 5% stamp duty charge up to £625,000.

From 1 April 2025, the stamp duty exemption for first-time buyers will decrease, with a new threshold of £300,000. First-time buyers purchasing homes priced between £300,001 and £500,000 will pay 5% stamp duty, while those buying properties over £500,000 will no longer be eligible for the relief.

Whether you’re renting, buying, or having a portfolio of properties, understanding these changes will be crucial as the new year begins.

If you need any advice or have questions, please don’t hesitate to get in touch with us.

Portsmouth City Council has launched an innovative Meanwhile Use scheme aimed at revitalising vacant properties and fostering community engagement. This initiative provides an exciting opportunity for landlords with business premises to help create a thriving local economy.

What is Meanwhile Use scheme?

Meanwhile Use refers to the temporary use of vacant spaces as a catalyst for creating more vibrant, active, and purposeful communities.

How does the scheme works?   

To get involved in the Meanwhile Use scheme you can:

1. Register Your Interest: begin by expressing your interest in the survey available at Meanwhile Use Survey. This helps the council understand the types of spaces available and the potential uses.
2. Connect with Local Creatives: once registered, your space can be matched with local artists, makers, and entrepreneurs seeking temporary workspaces.

Benefits

Meanwhile Use temporary spaces can offer multiple benefits not only for community and local creatives but also property owners and landlords.

• Economic: revitalise neighbourhoods, increase property values, and reduce landlord costs.
• Community: foster a sense of belonging, support local artists and businesses, and create safer, more attractive areas.
• Sustainability: reduce environmental impact by repurposing buildings and providing flexible use for property owners.

For more information, visit Meanwhile Use scheme.

Looking to maximise your property’s value?

Our expert property services are designed to help you unlock the full potential of your space. Whether you’re buying, selling, renting, or managing, PS&B’s almost 200 years of experience can guide you every step of the way. Discover more here. 

On 30^th October, UK Chancellor, Rachel Reeves, has presented Labour’s first budget since 2009.  To find out how the Autumn Budget impacts the property market, read the key takeaways below.

Key takeaways

• Stamp duty for second homes has risen to 5%
• A pledge of £500 million has been made for affordable housing
• Higher stamp duty thresholds remain in place for first-time buyers and home movers until April 2025
• Capital Gains Tax has increased, but rates for residential property sales will remain at 18% and 24%
• Inheritance Tax threshold will remain frozen until 2030

Stamp duty for second homes has risen to 5%

As of 31^st October 2024, buyers of additional homes will face a 5% stamp duty on the entire property cost, up from the current 3%.

The new stamp duty bands are:

• 5% for properties up to £250,000
• 10% for properties between £250,000 and £925,000
• 15% for properties between £925,000 and £1.5 million
• 17% for properties above £1.5 million

This change may concern property investors, as many landlords are already selling, with 12.5% of homes for sale being former rental properties. This is decreasing the rental supply, leading to increased competition and rising rents.

Reeves stated this stamp duty increase aims to support first-time buyers and home movers, while the raised threshold for them will remain until April 2025.

A pledge of £500 million has been made for affordable housing

Reeves announced a £500 million investment for affordable housing as part of a broader £5 billion package aimed at delivering 33,000 new homes, boosting supply, and supporting small housebuilders. Key development sites include Liverpool Docks, which will see 2,000 new homes, and Cambridge, to help maximise its growth potential.

The government also plans to enhance affordable housing supply by reducing Right to Buy discounts, ensuring more council homes remain in the sector. They noted that England’s social housing supply is continually diminished by the Right to Buy scheme, which also discourages councils from building new social housing. Local authorities can now keep all proceeds from these sales to reinvest in housing stock.

Higher stamp duty thresholds remain in place for first-time buyers and home movers until April 2025

First-time buyers will benefit from a raised stamp duty threshold until April 2025, allowing them to avoid stamp duty on properties up to £425,000. However, starting next April, this threshold will be reduced to £300,000. For now, first-time buyers purchasing homes between £425,000 and £625,000 will pay 5% on that portion, and normal rates apply for homes over £625,000.

From April 2025, first-time buyers will pay 5% on the portion between £300,000 and £500,000.

Home movers will also see the stamp duty threshold of £250,000 remain in effect until April 2025. For homes over £250,000, the tax will be 5% on the portion up to £925,000, 10% on the portion up to £1.5 million, and 12% on the portion over £1.5 million. After April 2025, the threshold for home movers will drop to £125,000, with 2% due on the portion between £125,000 and £250,000.

Capital Gains Tax has increased, but rates for residential property sales will remain at 18% and 24%

Capital Gains Tax is levied on profits from the sale of assets, including second homes.

On 30^th October,  the Chancellor raised the tax rate for lower-rate taxpayers (earning under £50,270) from 10% to 18%, and for higher-rate taxpayers (earning over £50,270) from 20% to 24%. However, the rates for residential property sales will remain at 18% and 24%.

Reeves emphasised that this keeps the UK with the lowest capital gains tax rate among European G7 economies.

Inheritance Tax threshold will remain frozen until 2030

The Chancellor announced that the freeze on the inheritance tax threshold will be extended for another two years, until 2030.

This means that the first £325,000 of any estate can be inherited tax-free. If the estate includes a residence passed on to direct descendants, this threshold rises to £500,000, and it can reach £1 million when the tax-free allowance is transferred to a surviving spouse or civil partner.

Additionally, she mentioned that inherited pensions will be subject to inheritance tax starting in April 2027.

If you have any questions, please don’t hesitate to get in touch.

At PS&B, we are thrilled to announce that we have been shortlisted for not one, but two categories in the prestigious Property Management Awards 2024! Our commitment to excellence has been recognised in the following categories:

1. Growth Property Management Company of the Year
2. Lettings Agency of the Year

Being shortlisted in these categories is a significant milestone for us and a testament to the dedication and hard work of our entire team. As we look ahead to our 200th anniversary in 2025, we are reminded of the legacy we’ve built over the past two centuries. Our unwavering commitment to providing exceptional service and innovative solutions has not only helped us stand out in a competitive industry but has also shaped the relationships we’ve fostered with our clients and partners.

Our Chief Operations Officer, Michael Barber, said: “We’re really thrilled to be shortlisted for both Growth Property Management Company of the Year and Lettings Agency of the Year! It’s such an incredible honour that reflects all the hard work and dedication of our team. This recognition reminds us why we love what we do – helping our clients and pushing ourselves to do better every day. As we celebrate this milestone, we’re even more excited about the future and all the possibilities ahead of us!’’

We want to take this opportunity to thank our valued clients, partners, and colleagues. Your support and trust in us have been invaluable, and we couldn’t have reached this point without you.