What Next for the Embattled Property Market?
Well here we are at beginning of 2009, and after the rampant misery of 2008 I’m sure I’m not alone in hoping this will be a far better year. I actually thought 2008 wasn’t too bad looking back, sure there were challenges but I’m reminded of Chicken Little as I write this, in as much as whenever I opened a newspaper or watched the news I assumed the sky was falling in. Nothing but doom, gloom and misery but ultimately the minutia of life went on, the bills still needed paying, the washing had to be brought in, kids picking up from school etc.
In terms of the property market it was a fascinating year, with the lowest number of sales nationwide since the early 90s, there was undoubtedly a market correction, but due to simple supply and demand market rules this had to happen. (too much supply, not enough demand) A visible side effect to the shrinking market is how many agents have left the industry, although some would argue this could be a good thing.
So what next for the embattled property market? Well no-one really knows for sure, there are so many varying opinions that it is difficult to know what to think or who to believe, but as I have said previously people will still need homes, either rental or fulfilling the dream of owning their own, this means that property will continue to be bought and sold and as long as that’s the case in our wonderful city I hope to be of assistance.
If you have any real estate enquiries or would like a free market appraisal, please contact me via email, firstname.lastname@example.org or call me on 528 2422.
0275 661 949