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Stop bashing property market ‘like a piñata’ leading agent tells politicians

Letter published in The Sunday Times bemoans the political squabbling over Brexit and Labour's plans to further tax the private rental market.

Nigel Lewis

letting agent

Leading letting agent Marc von Grundherr of London firm Benham & Reeves has written to the Sunday Times to bemoan the ‘assault’ on the property market from all directions.

In a strongly-worded letter that was published yesterday in the newspaper, von Grundherr criticised the nation’s politicians for ‘squabbling over our EU future’, Labour’s planned additional clamp-down on private landlords and Sadiq Khan’s rent control plans.

“Shadow chancellor John McDonnell says he wants to tax landlords until, presumably, the pips squeak — and now wishes to steal a chunk of the value of their properties and gift that to tenants,” the letter says

“If this succeeds after a change of administration, as now seems possible, the glee of the Treasury and tenants will be short-lived when they realise there are no landlords left with whom to fight.”

Despite this political and economic onslaught, von Grundherr says the UK property market has shown remarkable resilience and claims prices and rents are higher than before the EU referendum.

“The property market underpins our economy, provides much of our social housing, employs hundreds of thousands of people and contributes billions in tax,” the letting agent says.

“Like a piñata, if you bash it for long enough the sweets fall to the floor and then disappear in all directions.”

September 9, 2019

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