28
Mar
Stable Conditions
Despite the fact that all home owners long to see a continual rise
in the value of their property one of the strongest thoughts and
influences over this and any other market is to achieve stability
and in spite of the turmoil in the global financial markets even
dear old Mr Mervyn King, Governor of the Bank of England is
forecasting a stable housing market for the next year or two. This
is in stark contrast to the headline grabbers at the end of 2007
suggesting declines as much as 30%. There will always be winners
and losers. Unfortunately in the mass market where high loan to
value mortgages are more difficult to get prices of lower value
properties are depressed and in some instances in some parts of the
country certainly are falling by as much as 7 or 8%. However, from
the middle to the upper end of the market where this is a supply of
‘one offs’ we are seeing the extreme with rises of 7 or
8%. The balance of course between the highs and the lows equals no
average movement at all. With the seasonal spring time flurry of
activity just beginning there is now a reliable supply of good
quality country homes and an increase in demand. Our conclusion is
that the market will resume normal level of activities in the very
very near future.