What is important in a confusing property market?
Events in the property market are largely controlled by turnover and turnover affects prices - up or down.
There are major events like world wars and global pandemics and inconvenient events like fuel and food shortages, interest rate increasing and cost of living rises. But it might surprise you to learn that the events which so often drive the property market are not global or even national: they are personal. These events are births, deaths, beginning cohabitation or ending cohabitation, stage of life changes, ambition, career success and career failure. These everyday events create a need or desire to move on or move in.
These events will always be with us no matter what is going on in the world or which government is in power. When a government – any government – dabbles in the property market, the result is usually a massive hangover once the policy party is over.
The market is best left to home buyers and sellers and right now we seem to be in a state of zero gravity. We are floating between price rises and price drops, as the lack of property for sale is counteracted by the rising cost of living, garnished with some pretty momentous global news!
If you wait for global events to stabilise, you will wait a long time. It's better to let your life events direct you and that way everyone knows where they are.
PFK has been dealing with property since 1876, we have a wealth of local knowledge, and we continue to see a strong property market. We offer bespoke marketing packages to include our own in-house drone operator, professional images, and walk-through videos amongst other things. If you are thinking of moving, then contact the relevant PFK office and the team will be more than happy to help you.
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Head of Estate Agency at PFK