25th March 2019

Spring is sprung.

Dark political clouds may be gathering over Westminster but elsewhere we are enjoying a spell of settled sunny weather - Spring definitely feels like it is here.

For me there are certain key indicators of this; the first brimstone butterfly on the wing and my first chiffchaff of 2019, a migrant bird weighing just a few ounces that comes all the way from Africa to breed here. The world is definitely still turning.

Spring also seems to be in the air for the property market. Big deals continue to be done in London - always a good sign as much of the market is fed from the top down and the country market likewise. In fact I wonder if we may be at an interesting moment- interest rates seem set to remain low for the next few years, supply of available property is distinctly limited and there appears to be an increasing appetite among buyers to 'get on with life'.

Individually, these factors at any other time would put upwards pressure on the market. When combined, even at this moment, I can see a possible cathartic effect. I am not yet brave enough to 'call the bottom' but I do think that there are interesting times ahead.