The end of October brings both Halloween and the Budget - both potentially scary events! Something I recently learnt was that Halloween derives its name from All Hallows Eve – the day before All Saints Day. This also led me to look up the Patron Saint of Estate Agents.
Apparently, there is a tradition of burying a statue of Saint Joseph in gardens to help bring around the sale of your home. Not something we see regularly in our day to day jobs and hopefully not something we will need to rely on given the recent news that the housing market is now bigger than it was pre-Covid (funny how things are now aged by the Covid pandemic).
The total value of annual property sales edged over the £350 billion mark proving that the market is still healthy and productive.
With many of the potential housing reforms being announced by the new government centred around the rental market, the Budget hopes to improve living conditions and standards for many tenants, whilst the promise to bring forward the remediation work on property cladding looks to secure owner and tenant safety.
That said we are already experiencing the same small hesitations we did prior to the General Election. We are a suspicious bunch and until the Budget has passed and we are confident that there are no major issues that will affect us we will view everything through sceptical eyes. The signs are that there are no major changes in the pipeline and I hope that come the beginning of November we will have seen a return to the productive and progressive market we have experienced all year.
For now we wait and see what political wonders we will be presented with in the build up to the Christmas period.
Poole Townsend offer a range of experts, not only within the property market but also covering the financial and legal aspects of property, and we are more than willing to talk to you and advise you on the best approach to take. By providing expert knowledge and care to our clients we continue to hold a market leading position in all aspects of property. Get in touch with the team.
By Craig Turner, Property Department Manager & Valuer, Kendal Office