As we all know British weather can certainly be varied even in the space of an hour let alone a day, week or month. The property market can be equally unpredictable, especially in light of the recent election result, which has created further uncertainty.

One could prophecy doom and gloom, but from every black cloud there is usually a silver lining and in this instance it could be in the shape of the sterling exchange rate. With the fluctuation in the UK Pound caused by the general feeling of instability, foreign investors may find it prudent to take advantage of our weakened currency by ‘dipping their toes’, once again, into our residential property market.

Our tourist industry should equally benefit with affordable hotel rooms and ample shopping bargains, now that money conversion is so favourable, from so many overseas locations.  With this in mind, an influx of people should also bring more retail opportunities with the possibility of growth in that sector and our exported goods trade should improve greatly, generating more jobs and prosperity.

Whilst Brexit hangs over our heads, Stamp Duty Land Tax and extra levies for second home or investor buyers still weigh heavily on our property industry it is easy to be negative, however there are, some glimmers of hope. Whatever the housing climate, people still need to move for an abundance of reasons – whether to upsize or downsize, work relocation or other personal circumstances homes change hands all the time. Although, less deals may take place and prices may reduce there is always movement. In times such as these, especially when buying a more expensive property, it is wise to buy and sell in the same economic market, as there is very little to be lost and much to be gained, once recovery has taken place. Yes, prices can go up or down but what truly matters is the monetary differential between the sale and purchase amounts. Although your sale price may be less, so will your purchase price, and, vice versa.

For every action there is reaction, so are you an optimist or pessimist, is your glass half full or glass half empty, are you a sizzler or a drizzler?

As your local realist I am hopeful that the sun will shine and balance will be restored in the not too distant future.

Published in London Property Magazine July 2017