The question of climate change is one of the great issues of our time. Will the climate warm up or, as some would prefer to argue, will it become cooler?
Well, the evidence at Lane & Bennetts is that the climate in the property market is improving. A warm current of opportunity is pushing away the poor conditions caused by the recession. But lack of property for sale brings with it an area of high pressure that inevitably re inflates prices when so many forecasters suggest the opposite should be the case.
But facts are facts and forecasts are only forecasts. Certainly so little stock, combined with buyers anxious to take advantage of low interest rates, has made for a strong wind of change. This market of low supply and high demand is frustrating for buyers but it is ideal for vendors. After a torrid few years, where buyers have had the upper hand – albeit with the other tied behind their backs through low mortgage availability – the pendulum appears to have swung back in the sellers’ favour.
There is little doubt that this is an excellent time to sell property. Now is certainly a far better moment to move than waiting for a time when more property enters the market. Then the pressure on buyers will be lower and competition to sell will be greatly increased. Some forecasters predict that this could be when the market slips back again. But all the signs here at Lane & Bennett’s show that the market is more robust than any of us dared hope and thus should slowly continue to improve, despite economic and political after-shocks following the credit crunch. One must not forget also the winds of change that a new government might bring – after that is, the uneasy “Dead Calm” we expect in the weeks before May 6th.
So those considering when to go to the market this year should bear one thing in mind – that in warmer climes it’s best to be first in the queue for the sun-loungers!