Here we are with a new government, after election campaigns that were almost silent on housing policy from any of the parties. As we all need somewhere to live and everyone can see that there is an increasing shortage of houses and flats for sale or rent this is disappointing - but not surprising as I cannot remember any real policy over the last twenty years.

At least the futile Home Information Packs have been immediately dispensed with - sympathy for the 3,000 or so trained HIPs inspectors - but what a waste of time and money the packs were. I hope more people will now be inclined to test the market with their properties without having to pay several hundred pounds up front for the privilege.

On the sales side, I have been looking for over three months for somewhere in the Caterham area, and very little has come on to the market in that time. Also the number of properties available for rent has reduced, which has meant that rents have increased by 5-10% during the year in this area.

The immediate prospect on finance is that obtaining a mortgage will still be difficult, but interest rate costs are steady and likely to remain so for a couple of years. The banks and building societies - particularly those that we own - need to be encouraged by the government to help more, particularly with first time buyers, as a contribution to society and the economy: and I mean encouraged, not forced in to mistakes, by careful thought and planning.

For investors, buying property to rent out remains a viable long term investment for those with capital. At Martin & Co we hosted a well received forum for investors, with informal contributions from local estate agents, accountants, surveyors and solicitors, earlier in the year. We plan to repeat the exercise in early July at no cost; if you are interested in being invited, please e-mail us at caterham@ martinco.com.

Graham works with Martin & Co at 5 Godstone Road Caterham

www.caterham-martinco.co.uk, telehone 01883 332933.