February 2010
It rather looks as if we are emerging from recession. These cycles run in three to five year cycles. The recent expansionary market has lasted a long time; a deep correction is therefore unsurprising. The concern that we all must have is that inflation is kept at bay. Not only is the timing of any interest rate increase critical but attention must be given to the actions of the Chancellor last year which have probably improved the chances of severe inflationary pressures developing. Owners have or are adjusting their aspirations according to circumstances although interestingly enough, in one case we are seeing the equivalent of a gazumping!
Vendors concerned about a failure to sell at or near current aspirations should consider the alternatives; no one needs to be told by how much the pound has devalued!
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