Rural Matters &
What with the recent announcement on Stamp
Property Review
Duty, and the USA’s bail out of Fannie Mae and
Freddie Mac, Country & Border Life’s resident
• words | PAUL DALTON of Balfours with Dalton & Co,
property expert spies some qualified reasons
Oswestry, Shropshire. Tel: 01691 655334
to be cheerful in the downturn
Cautiously optimistic
I have no option this month but to start with an are full to bursting with sawn logs and are now
update on how I see the current property situation, putting quotas on contractors; I’m told the docks
bearing in mind it’s several months since I at Liverpool have more imported timber stacked
commented on the state of the market. on the quay than has been seen for many years.
Shortly beforeº penning these notes, the Few would appreciate that falling house prices
Government announced (having enjoyed their and the decline in the building of new homes
summer recess) that Stamp Duty will not be would result in forestry contractors throughout
payable on properties below £175,000. This may be areas of Wales laying off staff. This will have the
good news for a few, and for those who’ll benefit knock-on effect of less trees being planted, the
I’m delighted. But the reality is that this isn’t the forestry nurseries who supply the young trees
panacea for curing the current property market ills. consequently suffering financially with their
At the time of writing, however, I hear the US stock – which is time-related – not being required.
government are underwriting two of America’s Always intent on keeping readers up-to-date
major mortgage lenders, which could – and I do with property-related matters, I’m bound to report
stress “could” – have some beneficial effect on the on the recently announced cure for regional
long-term property market in the UK. This will be flooding, which has hit many areas in the last few
an only-time-will-tell scenario. weeks. You’ll shortly require planning consent to
The reality within our offices is that during the pave or tarmac your front
course of the last few months, we’ve actually sold garden, as such works
a reasonable number of properties, and pleasingly have been attributed
some that were running up to their ‘sell-by date’. to rapid run-off of
In fact, having returned from my much shorter than surface water
the Government’s summer recess, I’m delighted to and account
note that property sales figures are certainly better for flooding.
than I was predicting earlier in the year. So it’s into This timely
the new Parliamentary term, as Mr Brown is back warning should
on the road (having decided to take his cabinet be heeded; in
to Birmingham), and we in the residential years to come,
agency business are under way replenishing the question of
our depleted housing stocks. whether planning
Expectant property vendors in our area, permission was granted
however, shouldn’t be lulled into a sense of for your front garden
wellbeing; house prices either side of the Border will become a
have fallen (I’m not going to be drawn on by how standard enquiry
much) but there are a sprinkling of prospective before contract.
purchasers out there still in a position to buy. Cantering
The downturn in the market has had a far into my conclusion,
reaching effect across many other business sectors; I note that whilst
it’s not just estate agents and mortgage brokers I’ve been away yet
who’ve felt the squeeze (a more delicate term than another restaurant
‘crunch’). Having recently spoken to a number of and takeaway food
timber merchants and forestry contractors, they outlet has opened
also are suffering due to the decline in the housing up in the Oswestry
market. Softwood timber, of which there is plenty ‘high street’.
throughout our region, isn’t being felled at the rate Will this be the future
it should be. The timber industry, having had a mini of all empty shops in
revival by way of timber prices, is now back in the market towns as the
doldrums. The local softwood processing factories estate agents leave?!
Country & Border Life
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