House prices up or down...?

Posted 10 August 2023 by Neil Moore

I am likely to say that it is a question, as a known estate agent, we are asked again and again, I have been in the property world since I was 18 years old and nearing 40 years later, if I had a pound for every time I was asked that question I would be on a yacht in the Carribean not giving a jot about property values!  

I read reports daily about the property market and I do not think it is only in the UK that we have this as a major topic of conversation, but there are countries who have a larger rented sector and talk more about the rise in rents or lack of accommodation, which while I think about, it is another issue that we have in the UK at the moment, the Government are doing their best to ruin the private rented sector.

However, the market may be adjusting slightly downwards, it's not a problem, for those who have been in the property market for some time and have other investments, sometimes they go down and sometimes they go up, overall, we know the trend in the UK property market is normally growth with a few blips along the way.  As we all know, sometimes you sell low, but you buy low as well. So the market keeps going and ultimately it does have such a big impact on many peoples life's they have to move whatever the timing or situation is, this has been proved even with increasing interest rates the public sentiment is 'let's just get on with it' which reminds me, I am old enough to remember 15% interest rates thanks to the then chancellor Nigel Lawson. 

The Government as we all know, since the change of multiple prime ministers, we have had in the last few years are in utter turmoil, they consider that they are doing the right thing, but the property market is one of the mainstays of the economy and thus far they have shown complete negligence. I am not suggesting that any party is better than another, frankly at this stage I think a dictatorship might be more useful! Except they finally go mad when the power goes to their head! 

The property market will keep on keeping on and long term it will always deliver growth.

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