Estate Agents Profits Up
At House Price Spy Keeping our eagle eye on property news this week its clear that something has changed, maybe not for the average buyer/seller or the average UK taxpayer but the industry is showing active signs of recovery. Despite prices actually falling the property industry namely regular estate agents and online estate agencies, whose profits have jumped by around a third in the last month.
The finance sector is also showing signs of green shoots of recovery (albeit Direct Line went bust Yesterday), with profits and funds available to lend returning to 2007 levels. So anyone who profits from the UK property market is going great guns, why are we unenthusiastic about the recovery?
Property professionals have looked after themselves while the regular buyer/seller pays the bill, as with the ‘hard times’ of the Tory government to come in the next few years we will be left to pay for over-ambition and over-expansion.
Before the 2007 slump it seemed that you could never lose money on property, now the long term view is the most reliable position. We need the government to do the same, the first year of the new government has seen them reverse a lot of plans, the merry go round of promises and apologies rolls on!