A Market Waiting to Move
According to Sebastian Murphy, group director at JLM Mortgage Services, uncertainty brings opportunity, and clarity sparks activity.
The housing and mortgage markets have been in a holding pattern due to uncertainty about the Budget. Conversations with clients, lenders, and agents often revolve around the question: what can we expect from the Budget?
The Government's potential changes, including stamp duty reform or a new property tax, have fueled speculation, causing many potential buyers and! movers to wait and see. This wait-and-see approach has a real cost and has dampened the market with conjecture rather than fundamentals.
Uncertainty comes opportunity - and clarity, when it finally arrives, brings activity.
Author's summary: Market uncertainty sparks opportunity.