It’s very hot, no not the weather. Of course, I’m referring to the ‘sellers market’ currently being experienced by many potential buyers in much of the UK residential property sector. It’s certainly a sharp contrast to what we would have expected some 14 months ago, when Covid first impacted the UK and which led to the first Lockdown.

As stated last month the decisions made by the UK government have created boom market conditions where money to buy exceeds the available stock and anyone who has just a basic grasp of economic theory will know that inevitably leads on to price inflation, and in this case affecting property. There is increasing comment in the media now about the prospect for more inflationary times returning to the wider economy and some comments made by Peter Cadwallader about materials shortages and staff recruitment in my interview with him on page 19 were thought provoking.

We’ve had a few examples of a hot property market in the last 15 years but nationally you’d have to go back to 2004 to see such a strong monthly national trend. How long this will continue for is debatable given likely mortgage affordability constraints, but with the unemployment figures looking far more positive than were being forecast just six months ago, making a call on what might be happening by autumn is the $64k question.

As such, buying for investment in this market could be seen as being appropriate only for the brave or foolish, but inside this edition we do have some insightful contributions to guide you from two experienced individuals in Adam Lawrence on page 36 and Piotr Rusinek on page 44.