The warning comes as the government’s plan to abolish ground rents remains missing in its leasehold reform bill, which is set to be debated in the Lords.
The Reserve Bank says households are surviving its repeated interest rate rises, but three percent of owner occupiers are now in a serious financial trouble.
While the Multiple Listing Service (MLS) may not be perfect, abandoning this model is fraught with serious problems, real estate industry professionals say
‘We opened up our borders and I believe it was irresponsible to do that without the resources in place to take care of all those people we have on the streets.’