There was a day when a slight shift in the bank base rate could have a profound effect on property market sentiment. The Bank of England’s recent use of interest rates to curb inflation is possibly the strongest signal to date that the British property market is actually driven increasingly by other factors such oil and utility prices, employment, global issues and other causes of inflation. All of which have now have a significant impact in the interest rate balancing act.
Until recently, most of us ignored the fundamentals of the national and global economy in our quest for advancement in the property arena; we focused wholly on the word on the street as to the future of the property market. We all became economic experts, sagely stating our semi-informed opinions on the future of “the market”, especially in the context of any Brexit confusion – now thankfully behind us.
Indeed, the term “the market” goes a long way towards demonstrating that we have become “market traders” over the years, rather than homeowners peacefully enjoying our chosen abode.
But thankfully, the pandemic has changed all that - and for the better. The complimentary or divergent forces at work on the fate of house prices are now so complex and confusing that even the experts seem to be at a loss to know what is happening.
However, one thing is sure; most buyers and sellers today tend to have a sincere reason to move. They are less driven by “the market” and more driven by real-life reasons such as family issues, downsizing, job moves, working from home, leisure, convenience, practicality, and leisure. As an estate agent, the joy of helping people move is what it’s all about. Please do contact if you’d like to us to be involved in your own property journey.
Dartford team t) 01322 228090 e) dartford@livermores.co.uk
Crayford team t) 01322 550777 e) crayford@livermores.co.uk