JUNE 2019 PRESS ROUND-UP Tue 02 Jul 2019

Media coverage highlights from June 2019
Media coverage highlights from June 2019

JUNE 2019 PRESS ROUND-UP

House price growth slowed in May, according to Nationwide building society. However, Jeremy Leaf, principal of Jeremy Leaf & Co, told The Express that the data doesn’t really provide a clear picture as to what is going on in the market: ‘Once again, we see no real pattern for the housing market emerging. One month, prices, transactions or mortgage approvals are up, then down - or very little movement - the next.’ 

Meanwhile, Halifax reported that average house prices rose to a record high in May. Jeremy Leaf told The Mirror: ‘No major correction has been seen or is expected and the market remains relatively resilient but continuing lack of urgency means business is tough for all, other than those buyers and sellers prepared to take a more realistic approach to present realities.’

A growing number of flats are being sold to absent owners who let them on Airbnb. This can be a nightmare for permanent residents. Jeremy Leaf explained in The Times: ‘This is a big issue for buyers of new-builds: who is going to buy the other flats? Will it be a housing association? Will it be an owner-occupier? Is it someone who will let the room out on Airbnb?’

The housing market in the north of England has helped push up the national average price of a newly marketed property, according to Rightmove. Jeremy advised some caution in The Telegraph: ‘[Rightmove’s figures are based on asking prices, rather than selling prices, which] are often determined by buyer or estate agent optimism and expectation, not necessarily realism.’ He added in This is Money: ‘Looking forward, it is clear some areas are more price-sensitive than others and Brexit is not a big issue everywhere. Nevertheless, political certainty will add to confidence and is likely to release more pent-up demand as buyers and sellers can’t sit on their hands indefinitely.’

Online agent Housesimple has scrapped its commission and will instead receive payments from mortgage brokers and other introducers it recommends. Jeremy Leaf warned of the dangers of this in The Mirror: ‘If you were thinking about selling your home, surely you would want to deal with an agent whose prime function is to sell your property at the highest possible price in the quickest possible time. The prime reason for instructing an estate agent should be to get them to sell your property rather than the cost, or lack of one.’
 

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