Autumn Leaves us Guessing
OLIVER MILES considers the property market as we approach Autumn.
Before long it will be Autumn - ‘Season of mists and mellow fruitfulness’, as John Keats put it. This Autumn the mists of Brexit may eventually lift and we may, for the first time in several years, have a clear view in which direction we shall be heading. This will be good for the property market, which has certainly been in the doldrums for a while; that is, if politicians resist tinkering with the property sector. There are reports that our new PM has some ideas about stamp duty changes and the opposition wants to alter rental legislation yet again, and this reminds us that one of the biggest threats to a stable property market is politicians and their policies. Our main political parties’ indifference and lack of vision in the housing sector is evident in that we now have in place the sixteenth housing minister in 20 years. Average time in the post, fifteen months. Ministers in the Exchequer clearly see home sellers, buyers, landlords, tenants and sales and letting agents as cash cows.
Another fog that is dissipating is the one surrounding online estate agency. After several years of confusion, obfuscation, claim and counter claim, recent figures show that online agents accounted for only 7.3% of all UK exchanges in the second quarter of this year. Employing a gifted and experienced estate agent makes the most sense for those serious about selling and with traditional estate agents commanding the 92.7% market share it is clear that the majority of the house selling public relies on their service.
We expect that there will be no sudden frenzy in the market this Autumn and although the season may prove to be be mellow, it will be fruitful for those who plan to move before the Winter.
With prices still relatively low, this Autumn ought to be the perfect time for a move.