Revealed! What property professionals want for 2023 

An interest rate drop is top of the new year wish list among property professionals, a survey claims.

A webinar poll among brokers, surveyors and other industry executives by Countrywide Surveying Services (CSS) found 60% of respondents opted for decreasing interest rates.

Resolving the cladding dispute was also highlighted by 17% of respondents, while 13% said they would like to see a deposit solution for first-time buyers.

The launch of an alternative to Help to Buy commanded 5% of responses, whilst 3% demanded a delay in Energy Performance Certificate regulation and 2% sought increased funding for lending. 

More than 300 people attended the webinar and heard from Graham Sellar, head of business development – mortgages at Santander UK, Rightmove’s Tim Bannister and David Fell, senior analyst for Hamptons International.

It was hosted by Matthew Cumber, managing director at Countrywide Surveying Services who was joined by John Baguley, director of technical, risk and compliance at Countrywide Surveying Services.

A further poll, taken during the webinar reflecting on 2022, outlined that half the audience thought existing homeowners with no mortgage had it best in 2022. 

This was followed by 22% who suggested that existing homeowners who had held a mortgage for more than 10 years and/or with less than 15 years to go had it best in 2022. 

Looking to 2023, 60% of respondents thought that existing homeowners without a mortgage will have it best in 2023 and 13% predicted that nobody would have it best, 

Cumber said: “2022 has certainly been a rollercoaster year for the housing and mortgage markets. 

“However, it’s encouraging that confidence levels remain healthy and its little surprise to see interest rate reductions topping property professionals wish lists for 2023 as this would help activity levels remain strong and demand high over the course of year.

“There is a good chance that the long-running cladding issue could be resolved in the new year, and this will release ‘cladding prisoners’ who have inadvertently suffered through no fault of their own. 

“The culmination of this long-running saga will also provide a further stimulus to the housing market by allowing these homeowners to upsize and create more affordable opportunities for first-time buyers where possible. A series of events which has to be a positive shift for all concerned.”