Is the housing boom hanging by a thread as Rishi s tax holiday ends? dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
Emmanuel Okas Wike, NIESV President
As businesses begin to emerge from the COVID-19 crisis, many of those whose operations were significantly impaired are facing rent defaults, which piled up while they were temporarily closed.
Similarly, residential tenants in the highbrow and high-density areas that suffered setback in their businesses or got laid-off by their employees are also having hard times in paying their rents. Artisans and self-employed individuals are also affected.
These have prompted property owners to make hard choices on the type of tenants to be assigned their property by adopting diligent standards. Some of the landlords have to deal with their own mortgage obligations and defaults, which similarly accrued during the pandemic.
As the property market heads towards the cliff edge of the end of the stamp duty holiday, it is becoming clear that the landing is likely to be softer than first thought.In January the housing market