Look around for growth

Contact A Mortgage NowWhen are we in a recession? What are the signs? How will we know when the property market is back in a period of growth?

 

The last five years have been a barren period for the property market. Restricted lending has made purchasing difficult and lack of buyers reduces prices and property values. Without good capital growth the prospects for property development are slim and therefore any available cash is invested elsewhere.

 

All over the country in 2008 and 2009 we could see half finished developments idle and retail premises boarded up on every High Street. Around our local area there were a number of properties with good development potential unused and unloved.

 

Over this weekend as we drove around, for the first time in five years we saw a number of small but interesting residential developments underway. Former commercial premises in the centre of major towns being converted into apartments. Are these developers ahead of the curve? As the building work on these projects completes in the spring and early summer of 2013, will there be buyers and funding ready to go?

Perhaps better times are on the horizon. If so, we suspect they may be here soon.

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