A PROMISING START TO 2017
After a challenging 2016, 2017 so far has proven to be considerably busier with a near record number of sales agreed for a January and February. Although this is great news for those that have been waiting to sell, it has accentuated the problem with a lack of stock. As a firm we are critically close to running out of property to sell and would urge any potential vendor to make contact with their local agent and take advantage of what is very good time to sell.
There are still many uncertainties economically that will affect a property market, of course we have the Brexit and the three percent extra on Stamp Duty for second/holiday homes/investment properties. It is the lack of supply in the market that is holding prices up and in some circumstances moving prices upwards. Sales that have been agreed this year are across most price ranges and our firm sales range from under £80,000 to just under £1 million pounds.
The housing White Paper was eventually published on the 7th February after months of delay, speculation had been building as to what the White Paper would hold and since its release reactions have been mixed.
The Government plans to free up public sector sites and make better use of Brown Field land by encouraging building of higher density homes near major transport hubs and areas of high housing demand. Strong protection for the Green Belt will remain with Green Belt boundaries only being amended in exceptional circumstances.
In order to speed up building, developers will be required to start building on land where Planning Permission has already been granted within two years or the permission will lapse.
The Home Builders Fund has been set up to back small independent builders and increase the number of homes built in England.
Upfront fees paid to Letting Agents will be banned as soon as parliamentary time allows to make renting fairer for tenants. The Government have promised to continue to support people with the Help To Buy and Starter Home Schemes.
A lot of commentators have described the White Paper as too little too late and tinkering around at the edges.