Just what exactly is a “double dip”?!

By Jan Hytch of Arnolds in Norwich

There was a time when the phrase ‘double-dip’ was only heard being uttered from the mouths of six year olds as they eagerly handed over their pocket money to the lady in the sweet shop, in exchange for one of those strawberry and lemon sherbet dib dabs. I know, I’m showing my age again….. The phrase now has altogether scarier connotations for anyone who reads and watches news reports on the economic cycle, in which ‘double-dip’ refers to ‘a further period of recession, after the period of growth which follows the original recession’. For months now, the media has been torturing

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us all with trying to second guess whether or not the property market is in, or approaching, a ‘double-dip’ recession, or whether we are actually just experiencing the usual stumbling re-start of a market that had recessed, but is slowly getting back into gear. The problem is that we have so much information to process – some would say too much: endless data and micro-statistics, all of which are blogged, twittered and e-published within a nanosecond of being made public, with no time given for due consideration and reflection, in order to reach a balanced view. The result is that we read all these conflicting opinions, and we don’t really know where we are! A week or two ago, a well-know trade magazine which serves the property industry ran a headline: ‘Property prices up or down – you decide!’. This referred to the fact that two national broadsheet newspapers had, on the same day, published opposite views based upon ‘reliable data’ – from different sources, of course! The truth is that there are those properties that sell within hours of coming to market, and those that take longer and require more bespoke marketing. Some sellers have a price in their mind which they want to achieve, regardless of what the market is doing, and others research property prices and take advice from agents on both price and marketing. All of which makes a big difference to whether or not your home sells – good market or bad. But isn’t that the way it’s always been? Good, experienced agents know how to work a difficult market, and are making homes sell for their clients every day.

For a short route to the good guys, try www.norwichanddistrictassociationofestateagents.co.uk

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