What’s really putting the brakes on the housing market?

While Brexit fears have created more uncertainty for the future of Great Britain, this article rightly points out that stamp duty changes of 2014 actually reduced the cost for 98% of the people buying property.  Ultimately the culprit seems to be a simple case of too many homes being overpriced relative to current demand.

Jonathan Eley states “I am engaged in a never-ending struggle with my inbox. I get around 200 emails a day. Staying on top of them is like clearing the Augean stables. Despite my enthusiastic use of the “delete” key, I still have close to 2,000 unread messages. Of those, more than 200 contain the term “house prices”. I have never been a property correspondent and I stopped editing the FT’s Money section more than two years ago. Yet still the press releases flood in. They fall into two broad categories. The first is the plain daft: how prices compare along the route of the Boat Race, or how much a new Waitrose adds to the value of your home. The second is the running commentary about the various house price indices that are released each month.”

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