Property and rental among hot-topics

One of Shropshire’s leading property agents hosted a professional briefing recently, with hot-topics on the agenda, at Shrewsbury’s Hencote vineyard. More than ninety local professionals attended Balfours Xtra, where on the residential property market, they heard there are subtle signs that high availability is starting to rebalance.

A 7% decrease in Shropshire’s annual residential stock to October last year. “Add to this budget jitters, and there could be an argument to market in a decreasing pool of competition ahead of Christmas,” was the message from Amy Meldrum-Beechey, Balfours sales office manager.

With timing in mind, Elly Carpenter, Balfours residential sales negotiator,  said both vendors and buyers should prepare as much as possible, so that when the right offer, or right house appears the transaction won’t be hampered. The process of appointing conveyancing solicitors, paperwork or mortgage offers; detail which can all be in place ahead of accepting or making an offer.

With the rental property market accounting for 11 million people, Clare Amey, Balfours associate partner told the audience the Renters Rights Act, which received Royal Assent last month, brings fundamental changes to the sector. The Act is due to be rolled-out in 2026, means guidance to landlords from professional letting agents has never been more imperative.