18
Jul
Raking Over The Coals
Recent headlines seemed to have poured scorn over the prospect of
an early recovery in the market place, although when you rake over
the coals, there is amidst all the pain and misery some initiatives
being exercised by the Building Societies to reduce selective
mortgage rates, particularly tracker rates. That suggests that the
movement of rates, in the not too distant future, shows a downward
trend. Some financial institutions are also suggesting that they
might start encouraging new business or better business for
credible long term customers. We have also seen the IMF give a
slightly more upbeat forecast for global growth, but as soon as
they do the otherwise reducing oil price starts to rise. House
prices seem not to be in free fall, which was certainly the
appearance earlier this month, although the slow decline has not
yet subsided altogether. High streets are beginning to feel the
pinch, but the figures are erratic, down in April, up in May, down
in June….what will July bring as a result of the summer
sales? This is of course just a sample of some of the conflicting
views and evidence that we have to ponder over, but what does it
mean to us. Well in the medium to long term we will no doubt
witness the same rapid growth patterns that emerge after every
recession, yes they will take on a different shape, at least we
hope so, but once the pain subsides the effects of this volatile
time will become a distant memory and the markets will rise like
the phoenix from the ashes. In the meantime, or the short term we
think we will see the markets continue to slow, but not stop, and
the rate of deceleration will be much slower in the next quarter
than the last. COMMENTS FROM LISA EVANS, SALES DIRECTOR