‘Build it and they will come’ - is an old adage which many an overly optimistic property developer will have abided by, until their lender calls in their loan with sales of units not matching expectations. As our lead article on page 15 underlines, the marketplace we have now for selling property, is not the same as it was some 12-18 months ago when the SDLT concessions and government covid support boosted property sales volumes.

The time honoured boom and bust cycle for the house-build sector, is once again being played out, as our analysis underlines and as such those who’ve been skating on thin ice are having to face the consequences. There have been some high profile casualties recently, with formerly gung-ho developers seeing their projects fail. Unfortunately, the consequences also are often felt by those private investors who’ve backed the developers via crowdfunding or other financing arrangements.