22
Apr
Put your money where your mouth is.
In our recent editorials we have been at pains to explain the
reasons why we believe that, by and large the property market,
whilst going through a correction, is not anywhere near the scale
or proportion that is reported by the popular press. We have also
been keen to illustrate the difference between the highs and the
lows of the market and that any disparity is largely driven by
geography rather than anything else. Also whether you look at the
mass market or the individual more bespoke or select market place.
We have reported recently that whilst Hampshire is not isolated
from the effects of the global market place it does tend to buck
most trends and certainly that is evident today. Demand remains
greater than supply and most deals are brokered without a funding
reliance. The only real weakness has been centred around a lack of
consumer confidence. Understandably both vendors and purchasers
will have been thrown off guard by the reckless, divisive and
sensationalised news headlines forecasting a significant decline in
property values. Certainly the vast majority of people that we
speak to you do not believe that at all, although a seed of doubt
has existed. Therefore the move by the Governor of the Bank of
England with his 'put your money where you mouth is' scenario will
undoubtedly improve confidence and give back a reason to believe.
Now the correction is being well handled and the support of the
economy, of which the UK housing market is a pivotal point
continues to be stabilised and with the capacity for growth. If the
prediction for further interest rate reductions come true sooner
rather than later then we can forecast a very busy summer ahead.