Despite the political turmoil swirling, there is now an acute shortage of residential property in some sectors. Could we be on the cusp of a rising market?
Here is a man who bites a dog story. With all the political gyrations going on at the moment, could the residential property market be on the cusp of an upward swing? Read more
‘The road to servitude is paved with government intentions’ as economist Friedrich Hayek might have said. His prophetic ideas are pertinent today, where we are on the cusp of a government ‘initiative’ to ban letting fees. As always with bureaucratic interference, a busybody’s desire to help the ‘vulnerable’ ends up as the economic version of playing the piano with boxing gloves, where the cure can often be worse than the ailment.
Any ‘fule kno’ that agents in response will simply raise their fees, which are usually around 10%, to landlords. The inevitable consequence will be higher rent levels for impoverished tenants. Read more
There were few Tax changes in today’s Budget, in respect of SDLT, for the Residential Property Market.
Of the few measures put forward, was the £500million for the Housing Infrastructure Fund, which according to Mr. Hammond will allow another 650,000 homes to be built. Although this sounds dramatic, if it is spread across many fiscal years, it won’t make much of a difference in order to help fix the ‘broken housing market’. Read more