Our property sector has faced numerous challenges this year, with halted projects and unresolved issues. A significant problem is the halt in construction projects due to labour shortages and rising costs. Despite a massive increase in immigration, the lack of control means we aren't gaining skilled workers where needed most.

The cost of construction materials has skyrocketed due to supply chain disruptions, slowing down existing projects and making new projects less feasible. Developers are hesitant to start new constructions, fearing unforeseen expenses and potential delays.

Another issue is the rise in employee costs, driven by changes in tax and stamp duty regulations. The increase in stamp duty has cooled the demand for new properties, leading to fewer construction starts.

The sector is also grappling with a shortage of solicitors, slowing the conveyancing process. This shortage is partly due to an overwhelming number of transactions, with solicitors in short supply, frustrating buyers and sellers alike.

Additionally, the housing sector struggles to accommodate a massive influx of people against a backdrop of reduced building rates, creating significant challenges.

The government's slow response has squandered what could have been a productive year. There is concern that projects will be forced through, overruling local sensibility and environmental considerations.

With less than four and a half years until the next election, the new government faces the daunting task of revitalising the property sector. They need to address these issues with innovative policies to ease labour shortages and reduce material costs. Reassessing tax policies that impact the property market could also stimulate demand and get projects moving.

In conclusion, the property sector is wading through turbulent waters, and the government's role should be crucial in implementing effective solutions.



Let’s not kick the government can. Our time for action is now; relying on government action, the industry may face even greater difficulties in the future. We can pick up the baton between us, ignoring the bellyaching and make 2025 a great year together.

It’s been done before by the private sector; we can do it again and make it even better with a much bigger can of our own that we will pick up and run with!