Up until the credit crunch, in the main, agents could make a good living from just letting and selling property that came ‘through the door’ - even if it was a digital one. The market then crashed. Prices fell by 18-20% in most areas but worst still, transactions fell by 50%, with many property businesses and jobs being lost. Although we have seen a good recovery in many places, according to the RICS, the number of properties available for sale is still at an all-time low. With Brexit, talk of a recession and possible Stamp Duty changes, the likelihood of transactions recovering anytime soon is low. And, with the Nationwide reporting just 5% of existing homes coming onto the market, without access to new build properties, it’ll be tough for agents - and you - to secure the homes you and your family need to buy and let.
