Going for gold?
Great Britain’s Olympic Games medals haul right now is proving a good deal better than that many countries – and apparently its the same with the property market!
Resilience is the ‘watchword’
So says the Nationwide in its latest house price stats report. The market, it says – like our athletes – is still showing ‘some considerable resilience.’ and house price falls here are still less than those in many countries. In the United States and Spain for example there have been drops of around 20 per cent on the nearest key peak trading periods. Source:- http://inea.co.uk/News/House_prices_show_biggest_yearonyear_decline_-5D327C6F.aspx
Hows it really going?
Comments Paul Ainsworth Lord of leading Darwen Estate Agency Ainsworth Lord Estates, “The stats from Nationwide say UK house prices are 13% below their 2007 peak at an average price of £164,389. But, as I have been saying constantly of late, I don’t like all this focused pricing talk. For me, its all about home sales and purchases being done in every town everywhere – in Darwen, Blackburn Bolton Manchester and any and everywhere across our Region and the UK . Can it go on and is it still going on? It can and it is! The fact that it can, is the thing I feel that is most worth being aware off and talking about”
New funding on the way?
There’s talk of new funding for the property market up and coming, which should increase mortgage lending and so play a part in boosting the housing market during the all important key sales period in the Autumn. Nationwide expects to see a “modest recovery” in the coming months.
Slow – but recovery there is
Adds Paul, “Well good . It is better now than last year and the year before and there is a recovery going on – slow, but it is one. For me that’s the key factor As and for the house prices – I’ve said it before and I’ll say it again – no-one should focus just on the value of their home when considering a move – not at all – its all about the whole deal – the buy and the sell.
You might seem to lose one end, but you gain from the reduced price at the other end when you buy. So the overall scenario we’re finding here in Darwen – and it certainly applies everywhere else too – it that this price issue tends to even itself out in most instances in the end.”
The ‘gold medal’ factor
There’s talk of the wet weather, the Diamond Jubilee, the Euros and goodness knows what else being factors in the talked about property slowdown. Well, perhaps then in the Autumn, the Gold Medal factor will ‘kick in’ and the market will be on the up and up by September – well why not!
Progress for the future!
Adds Paul, “Well, such an idea is no more logical than refusing to recognise the realities of progess and resilience that the property market continues to show at the moment here in Darwen, Blackburn Bolton and elsewhere in our Region and beyond. I believe too that this progress will continue into both the near and the more distant future. It may be more bronze than gold in its status – but it will happen!.