Paul Smith, its chief executive, reckoned this isn’t just a seasonal phenomenon.
haart estate agents have experienced a surge in enquiries from potential buyers in the New Year – but so far corresponding increases to transactions are yet to materialise.
Paul Smith, its chief executive, reckoned this isn’t just a seasonal phenomenon.
He said: “The second half of 2016 was one of subdued market activity as would-be buyers and sellers took stock in uncertain times, but this in turn created huge pent-up demand in the market which is now starting to return.
“However, these blatant intentions to move are yet materialise as an increase in transactions, which are still suffering on month-the-month and the year.”
Smith looked ahead to the government’s housing White Paper, which is expected to focus on affordable renting this week.
He added: “Government stamp duty incentives for downsizers and first-time buyers would be an easy way to get the market moving, while buy-to-let demand could easily be channelled into build to rent through incentives if the government refuses to drop its stamp duty surcharge on second homes.
“Solving the housing crisis will take action at both ends of the property market, and failure to recognise this will see the paper stumbling before it gets off the starting blocks.
“The government must be creative in its solutions and dare to think the politically unthinkable – limited green belt deregulation is a policy with the power to truly transform the supply of homes. Opportunities for radical reform don’t come around very often, and so it is crucially important that the government get this right, and let this be the hallmark of modern housing reform in the UK.”
