Although major events like world wars and global pandemics and national events like fuel and food shortages, interest rate hikes and cost of living rises can affect us financially or mentally, it may surprise you to learn that the events which so often drive the property market are not global or even national: they are personal. These events are births, deaths, beginning cohabitation or ending cohabitation, stage of life changes, ambition, career success and career failure. These everyday events create a need or desire to move on or move in.
These personal events will always be with us no matter what is going on in the world or which government is in power. When a government – any government – dabbles in the property market, the result is usually a massive hangover once the policy party is over.
No, the market is best left to home buyers and sellers. Right now we seem to be in a state of zero gravity. We are floating between price rises and price drops, as the lack of property for sale is counteracted by the rising cost of living, garnished with some pretty momentous global news.
Put it this way; if you wait for global events to stabilise, you will wait a long time. It’s better to let your life events direct you. That way everyone knows where they are.