Is the property industry at a crossroads?

Updated: Feb 2

The property market became somewhat fractious during 2020. After receiving a much-needed boost with the promise of stamp duty relief, things got really busy.

Unfortunately, the timing was not ideal given that the country was in periodic lockdown and a vast percentage of the required workforce was furloughed.

From a supplier’s perspective, we saw the industry turn on itself. Rather than seeing stakeholders pulling together, the market became fractured, disparate, and full of blame.

We were not completely surprised, the relationship between conveyancers and estate agents tends to be harmonious when things are going well, but when it gets tough all problems belong to someone else and fingers get pointed.

If I could be the parent in the situation, I would have banged many heads together and asked what was to be gained. However, in reality, everyone has been too busy to really care about the cause, or how issues can be avoided in the future, as results have been demanded regardless of the difficulties being experienced.

So unfortunately, very little has been learnt about how things could be improved, we have all simply been too busy to spare the time. But that has to change.

There is massive demand for property, and at the right price there always has been. But this last year has been different. Many families reviewed their living space to not only accommodate home life, but also their work requirements. Remote or home working is more commonplace than ever in the UK and as a result, many now need more living space to cope with their changing needs.

Back in the mid 2000s, I worked closely with the legal market and experienced just how much that industry had been challenged. Property crashes forced conveyancers to either re-train or leave the