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Coventry Property Talk

Episode Two – Rogue Landlords and Buyer & Seller Confidence

So if you’re wanting to know what been going on the Property Market in the last week, then please watch this video!

So Thank You very much for listening to this second podcast and welcome if you’re watching this on my Youtube or Facebook Channels. Please do remember to subscribe to be notified of any similar content.

Just to let any new viewers know that this is just the second episode. And the reason for doing this show is that in all the years I’ve been a Sales & Lettings Agents, I’ve never known so many factors influencing the market.

So back in the late 80’s we had the housing act which had legal ramifications to the Lettings Industry, The 90’s and around 2008 we had the financial crash and a slow down of the markets. But now it seems we have both of those together, with the added complication of the market disruption by Online Agents.

So I thought this series would be an opportunity to discuss the weeks’ s major headlines and share our experiences & observations
Let’s start off with the Negotiator Magazine –
£2 million more given to local authorities to crack down on rogue landlords
This is the government’s attempts to reform the so-called “broken housing market”; that new rogue landlord legislation is pointless unless backed up with robust enforcement.

 

Richard Lambert (left), CEO of the National Landlords Association is quoted as saying “Providing £2 million towards enforcement is a welcome start, but it’s little more than a drop in the ocean,

“Local authorities need far more substantial and consistent resourcing to be able to enforce properly in the PRS and rid the sector of the criminals operating within it.”

A lot of my Landlords, who try to stick to the letter of the law are feeling like they’re being tarnished with the same brush as these bad landlords – and I really wanted to hear from you Landlords to see how you’re feeling about the changes. Do you think it’s a positive or negative and how are you feeling about the market? How is it affecting you?
The two similar articles by Property Wire
Outlook for UK property market subdued as demand from buyers falls
Demand from new buyers in the UK has been falling in the face of interest rate rises and continued Brexit uncertainty with prices flat or negative, according to the market report from the Royal Institution of Chartered Surveyors (RICS).

New property listings fell unexpectedly in October, the latest data shows
New property listings fell by 5.5% across the UK in October, and by 6.8% in London, according to the latest housing supply index.
The index was from online agent Housesimple Recent house price falls, particularly in the South East and London, may have dissuaded homeowners from putting their properties on the market, says the index report from online estate agent Housesimple.
So Sam Mitchell is HouseSimple’s CEO and he’s quoted as saying that ‘The immediate issue is that a combination of interest rate rises, Brexit fears, and a barrage of negative news surrounding house prices, has put off homeowners. With house prices falling in a number of areas, most notably London and the South East, homeowners are choosing to wait and see what happens next before making the decision to move,’ he explained.
He goes on to say ”for many families who are being squeezed financially, while they might have equity in their homes, they may not have the liquid funds to cover buying and moving costs such as stamp duty and solicitor fees,’ he added.
So would really like to hear from any of you who are having reservations about committing to buying or selling your property. What is the concern you have? So I’ve got a lot of family and friends who would only take on a big commitment like buying or selling a property if they knew they were going to be financially secure over the next 5 years or so. I’m just wondering what needs to happen in your life to feel that you’re going to be financially secure. Is there such a thing as a Job-for-Life anymore? Is there such a thing as a Monday to Friday 9-5 job? – Where you can just about balance a healthy work-home life balance?

For more information, hints & tips, on the Coventry Property Market, please like and follow my facebook page: https://www.facebook.com/CoventryPropertyExpert

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For my comments on Coventry’s Property Market, please visit https://www.CoventryPropertyMarket.co.uk

I’m also contactable by Call, Text or WhatsApp on 07864 942 768

Having been a Sales & Lettings Agent for 20+ years, I believe my knowledge and experience will be valuable to Coventry House Sellers and Landlords.

Heenay Joshi
Coventry Property Expert

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