It is safe to say that 2019 was a momentous year in the housing sector. The uncertainty over leaving the European Union followed by a snap general election, made things difficult for agents and the market.
Despite this, the industry remained strong and generally optimistic. The underlying strength of the market, especially in lettings, remained evident as demand still outstripped supply.
This was reflected in another year of growth in the Property Redress Scheme membership, with many new entrants in to the sector and few leaving it.
There was however a lot of food for thought for agents to digest during 2019 and plenty of new rules and regulations to get their heads around. I outline some of these below.
What is clear is that property is becoming a more regulated and controlled sector and it has risen up the political agenda. Whilst this will place new burdens and obligations on property professionals, they will raise standards, increase trust and confidence in the market and lead to a safer and more secure sector in the long run.
Of course in the short term, there are inconsistencies, enforcement issues and unforeseen consequences to overcome and some agents will struggle to cope with this. The Property Redress Scheme along with the other parts of the Hamilton Fraser family, are here to help and support all parts of the property world and help it to continue to thrive.