Reasons To Be Cheerful

9th March 2012

At the beginning of 2012 you could have been forgiven for burying you head in the sand as the outlook for both the economy and the property market was distinctively gloomy.

Predictions that the country was going to slip back into recession amidst a desperate Eurozone crisis and poor economic output data gave little hope for any improvement in the housing market this year.

How times can change in little over six weeks. By the end of February the economic crisis appears to have been diverted with the CBI predicting a slight increase in GDP this year. The blue chip FTSE 100 indicates that the stock market has rallied by 8% closing just short of the magic 6000 point threshold. With the Greek debt bail out apparently resolved, at least for the time being, commentators are looking towards a brighter 2012 than could ever have been imagined in January of this year.

The property market has also enjoyed a feel good factor and while it would be absurdly premature to suggest that 2012 will be anything but reasonable, there is at least now some reason for optimism. Many new instructions are being taken by George F White, and a decent number of sales have already been agreed this year. Most significantly in my opinion is that the message that realistic pricing is the solution seems finally to have hit home with vendors, who are now agreeing to substantial reductions in order to shift their property.

Had you asked me for my prediction six weeks ago it would have been very different to that which I believe is now going to happen in 2012. With vendors being far more in tune with what is really happening in the property market and buyers able to get real value for money they seem to be coming out of the woodwork in great numbers. Spring seems to be coming early this year with temperatures rising last week to what is more customary in May, and therefore whether you are looking to buy or sell your home during the coming year there is much evidence to suggest that you too should have a “spring in your step”!

Recent News