In this ever changing and fast paced economic minefield it is important to stay on top of current events that can alter or skew the commercial and financial climates. At present this is possibly more important than ever due to the uncertainty of Brexit, our shaky looking government, the delicate balance of inflation and interest rates plus the rampant taxation imposed on the majority of the UK population. Due to the fragility of Great Britain at this time, it is essential to ensure that whatever measures are taken to protect our businesses, homes, savings and the like, are well considered before taking the plunge.

Prior to making decisions it is always prudent to establish what you are trying to achieve, whether monetarily this will work for you, and, if having investigated all the financial implications and influences, it produces the desired outcome. That’s why in changeable times, such as these, it is more important than ever to keep abreast of the shifting political and fiscal landscape.

For example, successful businesses do not price themselves into liquidation they adjust and manoeuvre with the trends, in order to maintain profits and sustainability. Savers do not generally give their hard earned money to unstable and unaccountable institutions for investment they tend to make plans that offer the right risk with the right return.

The housing market is no different, it can be volatile and fluid, but by adapting and going with the flow, moving can be a viable option without ones plans suffering as a consequence.

For those who are contemplating a sale realism is key. It is a well- known fact that the best time to sell any property is within the first 3 – 4 weeks of marketing, as generally the keenest and most genuine buyers will want to gain access immediately and place offers. In this struggling environment there is no point trying to achieve the heady prices of 2014/15, they are not realisable. With technology to access historical sale prices and information, buyers today are much more savvy and knowledgeable, which translates into tougher negotiation and an in depth understanding of the market. It is therefore essential that wise seller’s market their property at the right price, as this will increase interest from serious buyers and may even create some bidding leverage in order to gain a possible elevation of price.

Naturally everyone requires the maximum price when selling their most valuable asset and equally wants to pay reduced amounts when buying, but it’s worth remembering that whatever is happening in the marketplace the value of an item is only the amount that someone is prepared to pay for it. Whilst a sale may achieve a lesser price than anticipated, a purchase may be bought for less too. Certainly, having sold, one has greater leverage and more likelihood of purchasing within a proposed budget. The saying ‘cash is king’ is unquestionably true in the current buying arena.

London Property Magazine August 2017