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Positive signs of improvement
1:48pm Thursday 17th May 2012
Here we go again. The Greeks are in crisis. The Eurozone is teetering on the brink of meltdown. The UK has fallen back into a double dip recession. House prices are still edging downwards. What will the property market do next? When will it get back to normal?
Well, despite the never-ending stream of negative news headlines, I am delighted to say that the Wyre Forest property market is experiencing it's busiest spring for 4 or 5 years. Not just busy talking, but busy agreeing sales.
Offers are coming in thick and fast and properties are now selling in good numbers.
So why is this good news not being reflected in the national news headlines you may well ask? I suppose there are quite a few reasons, but the underlying theme is probably one of restraint.
One swallow doesn’t make a summer, and a few months of houses selling well doesn’t make a property boom!
The bigger news headlines still scream the word ‘caution’. We are by no means out of the woods, and we could still find ourselves back deeper into the woods if the global strategists get things badly wrong.
But despite ongoing concerns on the world stage, closer to home there are some very positive signs of improvement. Many clients that I speak with tell me that things are busier at work, or in their particular line of business, whatever business that may be.
And with a healthier number of houses being bought and sold, this should mean growth for businesses such as furnishings, home improvements, builders and all of the myriad suppliers to these trades. In other words there are encouraging signs that the country’s cogs are beginning to turn once again, which should pave the way for increasing prosperity, and not before time.
A slow and understated recovery is what was always predicted, and is exactly what is needed for it to be sustainable. The last thing we need is for the property market to get in any way overheated by house price inflation or unshackled lending criteria.
No, restraint is most certainly the word. Property is slowly becoming more affordable for a greater number of buyers, and the longer that trend continues, the firmer foundations our economic recovery will be built on.
So, what should a sensible buyer or seller do right now? The answer is to forget the news headlines and get on with your move.
If you wait for things to get back to normal you will wait forever because there is no normal in property. We are where we are today. Tomorrow may be better or it may be worse. But who really knows? So make the most of it now and move without looking back.
Don’t wait for things to get back to normal. This is probably as normal as it gets, and things are actually looking pretty good.