Today, for my first Saturday column, I’m looking at three stories and reader reaction in the past week
First: CMP hopes dashed
“I understand strength of feeling and sympathy (on compulsory client money protection) but I am also mindful of the possible additional burden this requirement would produce.
“We need enough time for transparency issues to bed in and show how they work.”
Brandon Lewis, housing minister killed off any chance of compulsory Client Money Protection in the near future.
His comments at the Association of Residential Lettings Agents conference was met with groans by the audience and Baroness Hayter, who had tabled an amendment in support of CMP, said she was “devastated” by the news.
EYE readers were equally shocked, with ‘eltell’ commenting on the housing minister’s assertion that he is “also mindful off the additional burden this would possibly produce”.
“What additional burden exactly Lewis? Nothing compared to the burden shouldered by distraught clients whose hard earned savings have been plundered by a fly-by-night letting agent/landlord!”
Lewis said he would reconsider in the future. We will keep the pressure up.
Second: Housing transactions
The spring upswing.
LSL data showed housing transactions shot up by 30% in March, ahead of the new Stamp Duty surcharge.
It was the strongest March since 2007 with 80,000 transactions.
Property Paddy was less excited though, commenting on our article: “What comes after a party ? A hangover!
“I suspect we will not see much price inflation for a wee while.”
Third: Purplebricks’ share
Purplebricks’ stock market performance was the main subject of debate on the forums this week.
EYE reader ‘Smile please’ said: “I think they are gaining market share, question is can they continue to grow with the money they have? To be honest we joke about them and know they are not as good as a traditional high street agent, yet the public is supporting them and they are growing.”
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