I picked my latest data up last week from the guys at PropertyData. It’s not a pretty picture. If you look at the first visual it shows a clear double dip. We looked as though we were coming out of recession in 2010 (judging by the number of deals done) but today we have slipped back. And that has been the story for the last couple of months.
It’s also what we are seeing as a business. There are deals around, but they are reduced in number and are at ‘realistic prices’. There are some opportunistic buyers back – those who have cash are currently King.
The news is a pretty sordid affair when it comes to the economy. There are few, if any, good news stories. That applies to the Europe and the rest of the World too. You could easily become depressed!
So where are we going?
I wish I knew. It is a difficult call. We should be doing better – interest rates are at an all-time low and values could be described as realistic. But we’re not. People are saving, not spending – and Christmas is round the corner – this will be the 4th year when we read about the slow in spending?
My view is that this is all about confidence. Or lack of confidence. My savings are in ‘safe places’ – not under the bed! But I can’t read the market and I fear it could get worse before it gets better. So if we are not yet at the bottom, things could get worse.
I wish I didn’t feel like this…
Can someone give us some good news, please?