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Market Update For Property Businesses
The property market has always been one of the most reactive sectors, and one of Tracy’s businesses is a property business, buying, doing up, renting, and selling. So when the state of the market changes, it affects her income streams, so as part of her new blog series, Tracy will be giving you a market update and a reaction to where we are in the second half of 2022.
KEY TAKEAWAYS
- In 2020 the government introduced the stamp duty holiday which meant that it was a lot cheaper for people to buy property. Covid didn’t have as much of an effect on the housing market so when the holiday was introduced, people started buying. This led to there being more demand than supply.
- The stamp duty holiday actually did the reverse of what the government wanted. Because demand rose and supply fell, prices went up, and the first time buyers who were supposed to be being helped onto the property ladder were priced out.
- Residential transactions have fallen by nearly 8% compared to in May.
- Residential transactions for June 2022 are 50% lower than in June 2021, which was the last month of the stamp duty holiday.
- According to a recent Which report, in a normal year most estate agents have about 50 houses for sale, this year they only have about 20.
BEST MOMENTS
‘It did the exact opposite of what it was supposed to do’
‘The speed of growth is now slowing down’
‘I do have a crystal ball, but it ain’t going to work that well’
EPISODE RESOURCES
www.witchproperty.com
ABOUT THE HOST
With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.
With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge of the mind, to ensure a truly rounded experience for growth and development.
Tracy on Facebook
Follow Tracy on Instagram
Tracy's LinkedIn
Witchproperty.com
PODCAST DESCRIPTIO
This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.
View all episodes
By Tracy Cartland-Ward & Dawn WillockThe property market has always been one of the most reactive sectors, and one of Tracy’s businesses is a property business, buying, doing up, renting, and selling. So when the state of the market changes, it affects her income streams, so as part of her new blog series, Tracy will be giving you a market update and a reaction to where we are in the second half of 2022.
KEY TAKEAWAYS
- In 2020 the government introduced the stamp duty holiday which meant that it was a lot cheaper for people to buy property. Covid didn’t have as much of an effect on the housing market so when the holiday was introduced, people started buying. This led to there being more demand than supply.
- The stamp duty holiday actually did the reverse of what the government wanted. Because demand rose and supply fell, prices went up, and the first time buyers who were supposed to be being helped onto the property ladder were priced out.
- Residential transactions have fallen by nearly 8% compared to in May.
- Residential transactions for June 2022 are 50% lower than in June 2021, which was the last month of the stamp duty holiday.
- According to a recent Which report, in a normal year most estate agents have about 50 houses for sale, this year they only have about 20.
BEST MOMENTS
‘It did the exact opposite of what it was supposed to do’
‘The speed of growth is now slowing down’
‘I do have a crystal ball, but it ain’t going to work that well’
EPISODE RESOURCES
www.witchproperty.com
ABOUT THE HOST
With over 25 years of experience in IT Management and Business Consulting and 10 years plus helping hundreds of property investors through training, mentoring and speaking; Tracy founded Witch Property. Tracy is renowned for her knowledge on property & business and her ability to sell, market and grow the property individuals and companies she works with.
With a wealth of experience in business and property, Tracy has a rare capability of mixing her skills in this space with her knowledge of the mind, to ensure a truly rounded experience for growth and development.
Tracy on Facebook
Follow Tracy on Instagram
Tracy's LinkedIn
Witchproperty.com
PODCAST DESCRIPTIO
This is a podcast for anyone starting out in business with a willingness to learn from others. Hear stories from guests that have gone from zero to hero in their business and find out what advice they have to share. Tracy will also be bringing you stories from everyday people who are just starting, or are only part way through their own story to success.