In a new series of meetings, Move iQ’s Phil Spencer heads up a People in Property Regional Panel Chat, looking at current issues with Propertymark Agents across the UK. Watch below.
Agents Stephen McCarron, Derry-based NAEA Propertymark president, David Votta, Kent-based ARLA Propertymark president, Tania Dutnell from Cardigan Bay Properties in West Wales, Miles Glenham from Glenham Property Management in Edinburgh, and Jane Earley, from Robinson Reade in Southampton lift the lid on the issues facing the housing market.
With some analysts predicting a property market crash, Spencer looked to gain answers from McCarron, who said, “I don’t feel as though the market will crash, but I certainly see the market softening which it is already shown signs of doing so.”
Commenting on the Welsh market, Dutnell said “Prices are starting to realign to more realistic figures. We’ve seen some huge price hikes over the last year or two being driven by the change of lifestyle on the back of the COVID-19 pandemic.”
Looking to the topic of stamp duty and interest rates, Earley added, “interest rates are causing concern with some buyers which is slowing the market, however, historically they are not high. I would now expect to see an easing into a bit of normality and for the feeding frenzy to ease.”
Moving to the private rented sector, Spencer asks Glenham about the rental market in Edinburgh, “We’re currently seeing prices up on average in Edinburgh by 14% year on year which is being driven by the lack of stock. We’ve seen more landlords selling in the past year that we have seen previously, all Governments need to recognise that and start to incentivise investment.”
Votta sheds some light on his views surrounding government interpretation adding, “the UK Government wants to improve standards for tenants and continues to use a minority of rogue landlords and agents across the country as their benchmark, but in reality, the average standard of property is so high now. The demand for private rented homes is through the roof and since 2017, the sector has lost 230,000 landlords which has been a consequence of the Governments intervention with legislation.”
“This worries me greatly,” Spencer added. “We need landlords as a society and governments seem to have done a brilliant job in disincentivising investment which is being seen on the ground creating less choice for tenants and higher prices.”
When the government bites the hand that houses the nation it must expect consequences.
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If even an overpaid TV star can see the problem when it’s held in front of his face, why is it that all the idiots sitting in Parliament cannot see it?
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Somewhat unkind
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JMK perhaps a little unkind on Phil Spencer the rest seems correct in my humble opinion.
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I have some Landlords whose rental property is newer and more energy efficient than their own, simply because they are having to spend the money on that one rather than being able to do their own.
No-one (or no-one decent anyway) begrudges Tenants a nice place to live, however Landlords are feeling like they are being painted as heartless scum with one hand and shaken for cash with the other. Property is investment, it is in everyones best interest to make sure it is in good condition, but there are limits, and not every Landlord is rich.
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CountryLass spot on!!
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Last night on the BBC we had the normal mindless reporting. Generation Rant and Shelter both on there advocating the need for rent control/capping and preventing landlords from evicting in order to sell their investments. The BBC reporter did not question why this situation is happening; the cause or any in depth consideration as to why the problem existed. Perhaps this was because the people they were interviewing were the reason landlords are fed up of all the landlord bashing and anti landlord rhetoric peddled by these orgaisations. Like vulnerable children the Government are influenced by the two biggest housing influencers Shelter and Generation Rant; the way vulnerable people listen and give credit to people on the internet who have no specialist knowledge but have charisma. There again what can one expect when the majority of conservative MP’s voted to have Truss as their leader which had massively adverse effect on the economy. It seems politicians just do not have the required level of intelligence to do the job they are doing. Where will this all lead – more misery not for landlords but tenants. Perhaps Tenants should be saying please don’t help me anymore!!
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Have a look on the site called housepricecrash they a\re delighet5efd that LL are selling up and being shafted
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I’ve got several pages on there dedicated to me. Approx 2018 when Selective Licensing came in, they was loving talking about me going bust soon. I’ve never been so better off cause the demand we have which they have created is shocking.Ha ha And I’m on again now this year.Everything they say is constantly wrong.https://www.housepricecrash.co.uk/forum/index.php?/topic/244179-will-landlords-sell-up-as-the-dreaded-s21-no-fault-eviction-notice-is-finally-to-be-scrapped/
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What no one is mentioning about the exodus of landlords is the knock- on effect on industry related employment from managing agents to inventory clerks to referencing companies. Its a huge employment sector that is already suffering.
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Finally someone with words of authority, they may listen to:
We need landlords as a society and governments seem to have done a brilliant job in disincentivising investment which is being seen on the ground creating less choice for tenants and higher prices.”
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I’ve just given notice to 2 more of my own properties. 1 tenancy of 17 years, the other 5. I didn’t need to explain why, they were both already aware of what is happening and are hugely sympathetic of how PRS landlords are being treated.
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