Where we witnessed Her Majesty the Queen inviting our new Prime Minister to form the first coalition government since World War II. It is not yet clear how this change of power will effect the country and if and what new confidence this news will bring to our fragile economy.
It appears UK voters have called for radical change so it is a matter of time to see whether the alliance can provide this. How this will impact on the housing market we do not know yet but one thing that is certain is that the local lettings market remains as buoyant as ever and good quality homes of all descriptions are continuing to find tenants within a short timescale.
Since the start of the economic downturn and the house price peak of August 2007 some individuals who were unable to sell property based on negative equity or a change of circumstance found themselves accidentally becoming landlords. Now that prices have clawed back some of that deficit and reached a temporary plateau, people are considering whether to sell or rent once more.
My advice is that letting has always been a sensible and prudent option, even if mortgage premiums need to be subsidised for a while and that capital growth will accrue if you are in it for the long-term.
James McCrudden, Belvoir Hitchin