Some worrying trends…..

Two headlines in today’s property blogs do not bode well for our new governors……

The first is that 18% of the houses being marketed last month had been listed for rental within the past three years;  100% more than in June 2023.  Whether this reflects the upheaval likely to follow the abolition of Section 21 (no fault evictions), the proposed abandonment of Assured Shorthold Tenancies, the perceived threat of increased levels of Capital Gains Tax (or even just the perception that landlords are in for a beating), it is deeply worrying that so many private landlords seem to want to off-load so soon after Labour came to power (and coinciding with the announcement in the Kings Speech stressing the need for new homes). (source TwentyEA)

The other (source Landmark ) follows analysis of residential market transactions in England and Wales for Quarter 2 this year;  whilst listings had increased by 6% over the same quarter in 2019, completions were 41% down.

We fear that, until the market revalues in line with today’s reality (see our piece ‘The wait is nearly over’), thunder clouds circulating over rumours or dramatic increases in capital taxation will continue to dampen demand…..