London: 52% of industry thinks market deteriorated in past quarter

A survey of just over 2,000 candidates and 1,000 employers across London’s residential property market suggests over half of them believe the market has deteriorated in the past three months.

The survey, by residential property recruitment firm Dove & Hawk, covers mostly employment related issues but also includes the question: ‘In comparison to Q1 2017 do you think the residential property market conditions are better?’

Some 45 per cent answered ‘a little worse’ while seven per cent said ‘a lot worse’; only 34 per cent said a little or a lot better.

When asked ‘What do you feel is the biggest concern to the residential property market currently?’ 39 per cent said UK domestic politics and 31 per cent said Brexit. Only 16 per cent put stamp duty as the biggest issue, which mortgage availability and industry skills shortages each recorded seven per cent.

No fewer than 84 per cent of employees responded by saying their would consider their career options in the next 12 months - but a more optimistic 77 per cent of employers suggested they would be increasing staff numbers over the next year.

When asked ‘What employers look for first and foremost in a new employee’ the answers were 75 per cent requiring a proven track record of performance, 10 per cent requiring realistic salary expectations, eight per cent enthusiasm, and seven per cent education and qualifications.