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And so it begins! The doom and gloom of the property market indices which are now starting to produce figures which suggest property prices are heading into reverse. I do find it interesting that much of this is being blamed on the mini budget, sure it didn’t help, but all the forecasters predicted a slowdown this year which has only just appeared. We have very short memories in the property market!
The leaseholder protections in the Building Safety Act 2022 (“the Act”) came into force on 28 June 2022, introducing new financial protections for leaseholders in buildings above 11 metres or five storeys where historical safety defects have been identified. The Act introduced ground-breaking reforms to give residents and homeowners more rights, powers, and protections. Read more here.
Where is the market going? This is the real question for now. Not will prices fall in 2023, but by how much? Read more to find out what's happening to the property market in your area now and what may happen in the future.
Some absolutely fascinating data from the indices this month. The longevity and comparisons of current rises/falls in the market over time for a decade or more are extraordinarily helpful to those working in the market – and reassuring for buyers and sellers. Read the article to find out what's currently happening in the property market and what impact will the latest policy changes have on the property market in the future.
Every month we are bombarded with a host of rental reports which cover what’s happening in the market, both nationally and regionally. Some reports are produced monthly and others quarterly. Some cover the UK, while others cover just England and Wales. Read Kate Faulkner's Q2 2022 PRS report to find out what's really happening to rents, demand, supply and yields in the private rented sector.