Thursday, May 19, 2011

Britain's housing market is an unexploded economic bomb - MoneyWeek

Britain's housing market is an unexploded economic bomb - MoneyWeek

By all means read this thoroughly depressing article but bear in mind that for our part we have had the best 3 month run in terms of sales, new instructions and contract exchanges since 2007 when we agree that the 'top' of the market was reached. As a broad brush generalisation estate agents are not interested in rising or falling house prices - they earn their living from actual sales so it is the volume (number) of transactions that is the real issue. Our view is that volumes are up! Home owners can only put off a move up or down the market for so long before other pressures come to bear and they simply have to do it.

If you still feel like you need to be reassured that the only way is down then take out a subscription for a regular copy of the Daily Mail!