By David Byers and Emanuele Midolo.
Featuring in The Times this week with David Byers and Emanuele Midolo, Black Brick Managing Partner, Camilla Dell shares her thoughts on Rachel Reeves’s upcoming budget and its potential impacts on the UK property market.
Black Brick Managing Partner Camilla Dell’s assessment of the pre-Budget property market — that she had never witnessed such levels of policy speculation in her entire career — was cited across multiple Times reports as agents and analysts united in their concern about the damage being done to transaction activity.
Supporting data from PropCast underlines the severity of the freeze: just 8% of homes in Mayfair and Marylebone (W1) were under offer by late July, while affluent areas including Kensington and Chelsea (SW10) saw only 12% of listings move — roughly half the rate recorded in 2022. Nationally, the number of “hot” property markets fell from 2,156 during the Covid boom to 1,678, while “cold” markets more than quadrupled from 88 to 571 over the same period.
Read the full article here.