Another set of house price data…another duvet moment…?

TV Property Guru Martin Roberts gives his spin on the latest property market figures- whatever they are!

Whenever house price data comes out, I think the Nation collectively hides under its metaphorical duvet, nervously glancing at the numbers in case they announce the end of the world as we know it (again) and, whether to those of us lucky enough to own our own home, likely our biggest asset has gone up or down in value (“on paper”.)

And especially at uncertain times like this, I think we all naturally cling to anything that gives even a modicum of positive news.

But my advice to you, unless you are actively in the market to buy or sell, is to take a deep breath, and RELAX. Because it doesn’t matter to your specific world at this moment in time. If you’re currently in the process, then perhaps pay a bit more attention, but even then what else can you do but ‘go with the flow’.

There’s enough to trouble our worried brains at the moment without overloading them with house price predictions and data.

And whatever the figures suggest, you can adapt your strategies to suit. On my property training courses we teach people how to make the most of ANY market conditions.

If it’s all hunky dory, as it seems to be at the moment- as people make the most of the stamp duty holiday and move to properties that better suits their post COVID needs- break out the bubbles. Well, it’s an excuse anyway.

“Be fearful when others are greedy, and greedy when others are fearful.”

But even if the data suggests it’s all doom and gloom, just change your strategy.  As Warren Buffet famously said- “Be fearful when others are greedy, and greedy when others are fearful.” It’s also good news for first time buyers and people trying to get on the ladder, and if you’re looking to buy, you can use negative sentiment to your bargaining advantage.

Also remember that the analysis of any data can often be influenced by the person analysing it. I’ll never forget a few years ago when two National newspapers had front page headlines on the same day, based on the same set of recently released government house price data. The headline in one was “House Prices set to boom”, the other, believe it or not, was “House prices set to crash”. Same data. Same day. Go figure.

I’m also always encouraging people to view property as a medium to long term investment. And historically over the years, medium to long term, property has proved to be a positive and reliable place for your money.

So whatever todays data suggests, enjoy it for what it is. A snapshot. Probably contradicted tomorrow or next week. And up for analysis depending on the glasses you are wearing- dark or rose tinted.  So break out the bubbles in any event.

Martin’s property YouTube channel is ‘Martin Roberts Property Titbits’ www.youtube.com/user/martinroberts1 for property & DIY advice and comment.

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