Uncertain house prices ‘a concern’
The latest City House Price Index revealed that prices have climbed by 8.9% in the past year but monthly growth has slowed to a crawl, with prices rising by just 0.4% in the three months to 30 November.
Davies said: “The property maintenance industry is determined by how well the property market is doing – and at the moment, I am concerned.
“While here at aspect.co.uk, our profits are healthy, we are looking at the property market very closely.”
He added: “Wages aren’t matching the unbearable rise in the cost of living and the number of people who are renting properties in recent years are also increasing to unwelcoming levels.
“And also homeowners who want to move on, can’t, because the price of houses which suit their needs have gone through the roof.
“It is a huge problem which the government must take into account.”
The housing and planning minister was changed again recently, as Brandon Lewis replaced Kris Hopkins to become the fourth in the role for three years.
Davies concluded: “The property market can do without the government changing their housing minister every five minutes. If there is no stability from people who govern the property market, then how can we expect banks to promote stability in their approach?”