The government does not understand the property market and should have regulated letting agents and create a standard fee, claims an independent property advisor.
Philip Hammond announced in his autumn statement that letting agents in England will be banned from charging fees to tenants. Landlords will now have to pay these costs instead.
Property advisor Ed Mead told Julia Hartley-Brewer that the government have "missed a golden opportunity to regulate letting agents," and questions why they haven't just introduced a "standard fee."
Mead added that "estate agents cannot afford to swallow all of those costs" so they'll be passed to the landlords who will increase rent. He believes the government have a "short term view because they’re only in power for five years."
Listen to the full interview to find out more