Property Problems Guides

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.

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.

The indices this month are still incredibly positive, despite the end of the Stamp Duty/Land Tax holiday. All are reporting the market is slowing versus the run up to the end of June, but versus previous years, demand is still incredibly strong, while the amount of stock coming onto the market is weak in most areas. Perhaps the most exciting thing from a property price/home moving index perspective is the launch of two new fascinating indices. One from OntheMarket and the other from reallymoving.com which compares costs for solicitors, surveyors and removals for home movers. Both of which give us a better understanding of the overall housing market with their different analysis.