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Good times, bad times, present times....
9:50am Friday 15th June 2012 in Commercial Property
THE Euro zone is in crisis. We really are in a quandary over austerity versus growth. The French disagree with the Germans and the British disagree with everybody. What is one to think or do?
In central London there is little doubt over what many mainland Europeans are doing – including wealthier Greeks. They are piling cash into residential property in our capital.
Whilst we are not exactly outdoing our Euro-cousins, we do at least have a property market that seems to provide an attractive haven for money in these difficult times.
Our local experience, while certainly not reflecting the market in central London, is certainly one of increasing activity since the second half of last year.
The market in Kidderminster, Stourport and Bewdley right now is very busy indeed. Property is trading, and the right property at the right price is trading very well indeed.
This is contrary to media commentary and the news headlines. Certainly the 6 o’clock news every night seems to be more of a cause for worry rather than celebration.
Quite why the property market should have sprung back to life at this particular time is rather difficult to say. Probably it is a combination of the human spirit that most of us possess, to get on and to progress in our lives. This is no doubt aided by the realisation that buying conditions are currently pretty favourable for those able to finance a house purchase.
Where it will all end no-one knows, but the times, they are most certainly changing.
Within the residential property sector there is a growing realisation that nothing will ever be quite the same as it was before. Perhaps we are at a moment in history, like the industrial revolution, when everything will change forever through this financial revolution.
Who knows what the future might hold, but rather than being afraid of it let us look forward to the future, with the new opportunities that it will bring.
After five years of recession, we in Britain are currently finding reasons to be cheerful again.
Perhaps kick-started by last year's Royal Wedding, this year has already got plenty of us in a positive and resilient frame of mind, inspired by the Diamond Jubilee, the Olympics and, currently, our national football team who are aiming for success in the European Championships.
We are not yet out of the woods. The Euro zone problems, Greek and Spanish debt and the further pressure these may bring to our own banks - already coy about lending money - will create further challenges. But overall there seem two very good places to be at the moment. One is in Great Britain and the other is in property.