Finance Property Checklists

For every property professional that was hoping now was the time to take a break from the huge number of moves since May 2020, it appears for many, that’s still not going to be easy. Although some reports suggest the market may be softening, most are still talking about buyers outstripping sellers and prices are definitely remaining stubbornly high – on average! Read my article to find out what's really happening in your area.

Buying a home has almost become a craze since the market opened in May 2020. However, it’s not been easy for everyone to get on the ladder during the pandemic. As well as first time buyers who had to stand back, so did other would be property buyers, including those on furlough that couldn’t necessarily go ahead with their planned purchase due to being on less income, and because of the level of economic uncertainty, those self-employed struggled too. However, latest research from the Intermediary Mortgage Lenders Association (IMLA) suggests for those that approach a mortgage broker for help, they are now much more likely to secure the help they need to get them on the ladder.

I find it amazing that every year we hear and read the same news stories on new builds - developers land bank to secure higher prices and raise profits; local authorities are granting planning permission and it’s developers that aren’t building. Both of these stories I think have been going ever since I have been in the industry – and that’s decades! This week there has been some research published that does suggest that developers hoarding land after securing planning is unlikely to be correct. To find out more, read my article.

Anyone trying to forecast the property market since it opened post the first lockdown must be scratching their heads! Trying to predict house price movements which are, to me, mostly based on consumer behaviour, is a tricky task. Most other markets I’ve worked in such as food, household goods, drink and the pet industry, have long term trends which are fairly similar year after year. That’s not the case in the property market and the last 12 months’ surprise changes in people’s attitude to property continues to confound the punters – including me!

It’s great to see new indices with more information about moving home to come to market, and both OnTheMarket and reallymoving have come up with very different ways of adding to our understanding of what’s happening. Read more to find out how can these new property indices can help us understand the market better.