Property Market Overview |
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Property Market Overview “The wheels didn’t keep on turning” In our last PMO, Michael Parkes Surveyors Ltd commented that, in order to keep the property market moving, banks had to keep lending, or confidence would be lost and prices, and jobs, would begin to suffer. Within days of the release of that document, the global financial markets changed dramatically due to the over-exposure by some banks to bad property debt. Now, at the beginning of 2009 almost everyone is tired of hearing doom and gloom about how terrible the property market is, and we are all familiar with the tales of just how much further prices are to drop and of how we truly are about to enter a recession, the true consequences of which are yet to be seen. |
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