Page 18 - Homes Magazine
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Market Matters
           There are times when writing market updates is quite straightforward. That’s when there are obvious trends and predictable outlooks, making it fairly simple to position how things are now and where they’re heading ... but this isn’t one of them!
At the time of publishing our latest magazine, all main markets are still hugely distracted by the ongoing ‘Brexit brinkmanship’. This is being played out between the UK and EU’s political leaders, as well as within the main Parliamentary parties at home. Have we been witnessing a very strategically played game of political chess, or one where all parties in the game are more focussed on ‘game play’,
rather than the outcome?
Your Turn Again
“Where people either w”
However, despite what you may be persuaded to conclude about the UK property market, from some of the more sensational negative headlines, there are quite a few positive points worth considering.
 ant to, or need to move...they will
So, were it not for Brexit which, after all, is only a temporary complication, the likelihood is the UK would not be the uncertain place it is currently. The general consensus is that UK confidence will return quite quickly when Brexit is finally settled, whatever the outcome. Yes, some main markets across the world are seeing adjustments up and down driven by a variety of reasons, but this is really just business as usual and generally ‘what goes round - comes round!
It’s important to remind ourselves that there’s still around 3,200 successful property sales being concluded every single day in the UK!
Also, the key UK economic indicators, which normally underpin a healthy market are all still looking very good:
 Inflation is at a 2 year record low of 2.1 %
 Unemployment remains close to a 43 year record low at 4.1%
 Bank Base Rate is still only 0.75%. with no immediate rise expected
 Wage growth now sits at 3.25%, nicely above the rate of inflation
 GDP Annual Growth rate was 1.5% at the year-end and forecast to remain stable
Back to the property market ... the simple fact is that, where people either want to, or need to move, they will ... and there’s a robust infrastructure of support all ready and waiting to help them do just that.
2018 Year End - National Property Market Headlines
  
Average time to sell from listing = 65 days
Overall National average prices rise by 1.3% North-South price divide narrowing further
London, S/East, East & N/East - values down
Other English regions, Inc Scotland and Wales, values up
        
 Shortage of houses for sale underpins demand Private residential rents stablise at +1% Increase in new landlords and rentals supply New Mortgage lending up 4% year on year Level of new house building is up year on year

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