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Scotlands Property market in July by Austin Lafferty |
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| Date Added: July 16, 2008 09:23:53 AM | |
| Author: Craig Burns | |
| Category: Scotland Articles: Scotland General | |
Confucius said May You Never Have to Live in Interesting Times. I can't think of anything more, er... interesting than the present property market. The press and media are daily reporting the reduction in prices, the laying off of construction workers by housebuilders, the continuing squeeze on mortgages. As I write this at the start of July, I read of two American lenders being bailed out for $75 Billion. So much for headlines. On the ground, the world turns and the machine grinds on, albeit only in first gear some places. We are back to basics. If you have a deposit, and a job, you can still get a mortgage. If you have a house in good nick and a good locale, you can sell it. Yes, prices are down overall ( though Edinburgh is experiencing a mini-boom - you'll have had your credit crunch) but that is an averaging out. We have just sold a house which was targeted at £400,000 for £430,000 in only a few weeks. The market is still alive. Agents and solicitors are working. For sure, belts are being tightened, and I have heard of casualties in staff numbers in some firms. But whatever doesn't kill you makes you stronger, and we must all dig in. The storm will pass, and individually meantime we can do no more than tough it out, look for business where it can be found, and do the very best job for clients that we possibly can. The property market is not the only sector to feel the pinch, and all of us are subject to a greater or lesser extent to the larger forces and tides in the economic world. We need to be as positive and patient as we can, and let nature take its course. |
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