Not to contradict Isaac Newton too much
According to Isaac Newton, what goes up must come down. Fortunately, in the property market at least, what goes down must also come up. Anyhow that is what happened in the 70s, the 80s and the 90s after periods of recession. Now it looks as if history is repeating itself.
Estate agents are always glass-half-full people. But can anyone have failed to notice that things are on the up? High Street spending is up, employment is up, manufacturing is up, GDP is up, the service sector is up, lending is up and the property market is up. In fact the property market is back with a vengeance in most areas. Vengeance is such a bitter word, but it is correct in this instance. The recession was harmful to so many people, but the market is retaliating now.
Is all this a blip? It is now looking unlikely. The planets seem perfectly aligned for growth in the property market. This is a great time to buy or sell. Low interest rates, plenty of stock in many areas, keen buyers, less reluctant lenders – the market is set pretty fair.
However, no matter how the market looks there are still some things we must watch carefully. If purchasing buyers need to keep an eye on interest rates – they also go up as well as down. If selling, do not get too ambitious and let your enthusiasm for achieving a top price blind you to reality – a glut of properties in the market means a lot of choice for buyers and buyers rarely select an over-priced property when a sensibly priced one is available. This is a time for level headed buying and selling - remembering at all times the laws of physics and of the market.