The squeeze on household budgets is causing a slowdown to the UK property market, but, according to Jeremy Leaf FRICS, the underlying ‘resilience to the market still seems to be there. As founder of Jeremy Leaf & Co estate agents, and also as former residential chairman of the RICS, Leaf remains confident that the market is holding up, for the time being, albeit at a slower rate.
The issues that have arisen are around the rise in base rates and affordability. Surveyors are re-valuing down some properties making it difficult for some to buy, but at the same time it’s clear that the mortgage market is buoyant albeit causing a bit of a bottleneck, currently.
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