The press continue to bemuse, confuse and frustrate me by their negative headline obsession. Whilst our focus is on the UK property market a local paper was criticised only last week for not being interested in positive reporting and only dwelling on negative ‘headline grabbing’ news.
A headline of just a days ago said Majority of homeowners expect house prices to grow in the next six months despite property market slowdown and then followed on by stating that 81% of property owners remain optimistic about price growth in the past six months but yet the article focuses on how some of the statistics suggest the many people surveyed were wrong. So what may appear as a positive statement really focuses on the drop in growth. The last few words are key here and as a reminder – a drop in growth. Meaning, there is still growth and but it’s at a lesser rate. So it’s still growing then! So 81% of people are correct and the articles overall message is incorrect but like so many press articles it revels in the negativity. Are the UK press as guilty as ever in talking the country down and almost enjoying failure and negative messages. How can this encourage positive thinking, entrepreneurial Britain and success. Success is not a dirty word!
Back to the article and the key points: Yorkshire and the Humber showed the highest annual growth, with prices increasing by 3.6 per cent in the year to March, according to the latest data from the Office for National Statistics and the Land Registry.
Similarly, survey respondents in the region are the most optimistic and expect prices in the region to rise on average by 4.5 per cent over the next six months, according to Zoopla.
‘Despite evidence of a slowing housing market and ongoing political uncertainty, homeowners remain optimistic about the future of property prices,’ said Laura Howard, a spokesperson for Zoopla.
‘Whether or not these forecasts prevail, consumer sentiment plays a crucial role in the health of the housing market.
‘A feeling of stability means buyers are more likely to start actively looking for their next home, confident that now is the right time to make a purchase. And, in turn, an active pool of buyers will encourage sellers to list their homes for sale.
‘Measured confidence in the housing market is also more likely to see homes marketed at the right price which, by its nature, generates demand.’
Property remains a solid bricks and mortar approach to investment and the demand continues. If you want to discuss this or other property related things please feel free to contact us.