The Property Market: 2020 - 20-20 Vision
A fortunate few people benefit from such vision, seeing clearly ahead. Seeing the way ahead in the property market is a little more complicated. Economics, emotions, stability, practicality and commitment - all factors to take into account when making an objective assessment.
Take away the stability of economics and the rest fall by the wayside. 2020 - a year of unprecedented world change with no fingerpost pointing the way ahead – no clear forward vision. Resilience, determination, reassessment, viability – no single person remains unaffected and many are standing back considering the important values in their lives – life values will change - as will the property market.
Economics will inevitably play a key role – primarily job security. But maybe the endless race to be forever striving for bigger and better things will not be so important. Contentment -pleasure in the here and now -satisfaction that social pleasure may outweigh the ever- demanding need for capital enhancement and wealth. Saving the planet – a real challenge that is largely ignored -many play lip service but make no consistent contribution – it is now proven that minimal travel is having a rapid and distinct positive effect -so look to holidays involving less travel -and if investment is still key then buy a second home in the UK. There are many and diverse areas and opportunities for all tastes.
Maybe a life-changing move from city to the country altogether. We’ve proved working remotely -in many cases- is possible - reduce the daily carbon footprint, embrace the technology and relieve the stress -a win- win scenario. Whilst understandably not an option for many elements of it can be considered. The UK property market underpins the economy. It is the biggest investment made by individuals and corporate organisations and will remain so.
It generates significant revenues for the government to utilise managing the infrastructure of the country. The step back to reassess will not falter the long- term engagement with property in all its forms, rather it will harden the resolve to strengthen the market knowing domestically home is the key factor to living.
Values fluctuate but a long-term investment made wisely will hold its value and in the case of home provide a return no sum can quantify.
Nigel Bishop