You couldn’t make it up! The government’s brand spanking new piece of legislation, i.e. The Renters Right’s Bill, and changes to the no-fault evictions just announced, will I’m afraid, sound the death knell for private landlords who have been teetering on the edge for some time now.
In a rising property market, the sun is always shining, and although I can’t say that transactions are not happening, there is still life out there and according to the Royal Institution of Chartered Surveyors (RICS), we may be in positive territory for the first time since October 2022.1
It’s interesting to note that throughout the Election and beyond, trading in residential property was oblivious to the change from the political livery of Blue to Red, probably because the result was a self-fulfilling prophecy on the part of the Electorate.
With the most recent IT outage issue in mind, where you can’t book a flight, order on Amazon, get a take-away or Uber and when the CHAPS payment method fails and property solicitors can’t complete transactions, we are reminded about how reliant we are on the internet and the digital world.
When it fails, we are totally stymied and or world grinds, summarily, to a halt.