Property Natter - Mistakes, milkshakes and military memories - what a week!

In a week when the election campaign descended into claim and counterclaim of lies over tax plans and Nigel Farage was attacked by a low-flying milkshake, we all took time out to think about those who fought and died to give us all the freedom to participate in a free and fair democratic process.

Even though the Prime Minister left the 80th Anniversary D-Day Commemorations early in order to give a television interview (something he later described as a ‘mistake’), we’ve all been reminded of the sheer scale of those Normandy landings, the incredible valour displayed and the tragic loss of life – 1,449 British soldiers fell on D-Day alone.

Back in Civvy Street in the 1940s, serving soldiers left behind them towns and cities decimated by wartime bombing. In the UK alone, 2 million homes were badly damaged or destroyed during the war and no part of the country was left untouched.

According to the British Legion, there were 100,000 homeless in Belfast and 35,000 in Clydebank. More than 20,000 bombs rained down on London and 116,000 buildings were destroyed in the capital.

By 1945 when the war was finally over, Britain needed 750,000 new homes.

And yet, despite the shortages of materials, skilled labour and ravaged infrastructure, 10 years later, 1 million new homes had been built – some of them in new towns, like Stevenage - which just shows what can be achieved when the will is there.

Not on the agenda

Dragging ourselves back to the present, it may seem astonishing that housing is yet to get much of a mention by any of the main parties in the increasingly tetchy election exchanges.

That must change in the days and weeks to come if the housing crisis is not to become a housing emergency – a generation of would-be home-owners is depending on it.

This eyebrow-raising oversight was highlighted in Estate Agent Today this week when Rightmove property expert, Tim Bannister, criticised Rishi Sunak and Keir Starmer for the lack of housing policy ideas during the first televised debate on ITV.

“At a time when house prices and rents are at record highs, it’s really disappointing to see that housing barely got a look in,” he said.

Hear! Hear!

That said, the two main parties will publish their manifestoes next week so we’re likely to learn more about their plans.

Our own Estate Agent Today columnist, Graham Norwood, gives us a sneak preview of Labour’s likely proposals in his Industry Views, here.

Seeing red and feeling blue

New data from AI financial communications experts, Eligible, claims that 100,000 homeowners are bracing themselves for mortgage rises before Election Day, which just goes to prove that there are still millions of people facing financial hardship, despite falling inflation. A dip in interest rates can’t come soon enough. Those in charge, the members of the Monetary Policy Committee of the Bank of England, are due to meet on June 20th.

It's a Christmas Housing Market

Believe it or believe it not, the Christmas rush has already started. Research from My Home Move Conveyancing revealed this week that sellers should be getting their act together now if they want to be in their new home by Christmas Day.

They say that the current average time it takes to sell a house in Britain is 146 days – so those considering making a move have about a month to get it on the market. And if there is a drop in interest rates before then (as has been tentatively predicted) there’s likely to be a bit of a rush on.

For the rest of us, can I issue a plea for a little summer sunshine before we have to endure another bleak mid-winter?

Another one goes for growth

In the last Natter, I mentioned that North East agency, Pattinsons, announced that they were in the market for further acquisitions and/or takeovers having bought three other businesses in the previous six months.

Now I see that independent estate agency and chartered surveyors, Henry Adams, is following suit at the opposite end of the country.

They are inviting entrepreneurs and business owners based across the southern counties ‘to explore new growth avenues with them.’

CEO Ian Wiggett says: “Owners may want to exit their businesses entirely, perhaps to retire, or move on to new projects, or to continue to grow their operations backed by extensive support from the Henry Adams group.

“Every business is unique, so we’re open to discussing different options and tailoring best solutions.”

Ian Wiggett, CEO Henry Adams

If that doesn’t show faith and confidence in the market, I don’t know what does. We wish them well.

Until next time,
N

If you’ve got a story you’d like me to Natter about, drop me a line at  press@estateagenttoday.co.uk