Market Trends

Quite a testing time of things in the housing market.

We have seen some interesting movements and trends in recent weeks!

Confidence is perhaps the most important factor in any market, be that for better or worse. Currently we are experiencing 'confidence' that the government will execute their proposed plan of cuts. This may not effect people directly in the short term, but will undoubtedly have an impact on all of us moving forward. If your prospective buyer is in the public sector, they may perhaps understandably hold off their purchase for a month or two.

Currently we are seeing a rush of houses coming to the market (Supply). This is a pretty regular seasonal trend, but buyers appear to be a little harder to come by (Demand). Perhaps this fall in demand is driven by the short term lack of confidence in employment prospects.

There has been much talk of a 'Double Dip' and in some respects, I can see it coming. That said, I am sure it will resemble a relatively minor hic up compared to the post Lehmans crash of 2008.

My honest thoughts; I think we are in for a slow winter but as the impact of the proposed cuts begin to settle down people will conclude with confidence that the earth is still turning, the sun will still rise in the morning, life goes on and so will the housing market. :-)

MN