Don't Panic Captain Mainwaring!
We’ve said before that Sentiment is a crucial factor in determining the path of House Prices and we seem to have been having a major helping of doom and gloom at the start of the year.
A brief look at the financial pages today sees Marks and Spencer reporting its first same-stores sales decline in over 2 years and fears about the rising cost of imports from China fuelling inflation. I thought I might find some solace in the TV schedule but then came across a programme called “Britain’s biggest house price falls”! You get the feeling that the media which stoked up over exuberance in the housing market is now about to lurch to the other extreme. It needn’t be that way. The fact is that a modest correction in what was an unsustainable level of growth can only be healthy but there is certainly no need to panic. Be sensible in your pricing strategy if you are selling and make reasonable offers if you are buying.
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