The Chancellor's budget cuts to the buy-to-let mortgage interest relief tax benefits for landlords has started to kick. Together with the slow down of European economic migrants seeking housing in the South East, the demand for rental property has fallen sharply.
Further measures to curb unscrupulous landlords exploiting vulnerable tenants and threats of increasing bank loan and mortgage interest rates, has meant that many landlords are now finding there is no longer a clear business case incentive to invest in property.
Estate Agents profit's have slumped and dividends to shareholders are suffering -
Imagine my heart bleeding.
Expect quite a few landlords will start to sell up to release equity profit because they are overstretched. The property bubble is about to burst.
Estate Agents' are the lifeblood of London Watch
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Last edited by uberteknik; 27-07-2017 at 11:37.
- 27-07-2017 11:36
- 27-07-2017 11:37
Aye, and so are the 7658 chicken shops.
- 27-07-2017 11:41
Well, algorithmic trading has "depopulated the trading floor", leading to enormous and progressing job cuts in the financial sector across different divisions of equities and derivatives business, the soon-to-be 5G technology with combination of driverless cars will lead to autonomous vehicles replacing drivers, and even accounting is rapidly replaced with AI. Estate agents are comparatively less significant in the broader picture of the rapidly changing economy.
- 27-07-2017 11:51
Bmt it's actually Morley's, bossman do me a service ngl.
- 27-07-2017 14:57
..and that's one of the reasons I'm so glad to put Sin City behind me!
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- 27-07-2017 15:39
Too many houses in this country are owned by too few private individuals.
Property speculation (buying houses and keeping them empty for speculation purposes) should be banned.
I'd also like to see a ban on people owning more than one property in London and a system which gives first choice on all properties to citizens looking to live there, not buy to let.