Economic Update Feb 2018
26th February 2018
26th February 2018
As you are well aware we like for our readers to be well informed when it comes to the economy and the state of the property market in general. We try to publish the most up to date information as it arrives on our desks from the most trusted of sources. That being said, our ‘go-to-guy’, Roger Martin-Fagg has a new update for us.
The full update can be found on the Property Academy website and goes into detail about the state of the global economy and the influence geopolitics is having on big business across the world. We’ll focus on the UK.
Martin-Fagg makes some excellent points regarding the politics of Brexit. The division of opinion between friends, colleagues and even families has led to extreme uncertainty within society but also on a grander scale. Martin-Fagg is a behavioural economist and believes that the Brexit vote was in direct opposition of austerity and, that this feeling is a direct consequence of the 2008 financial crisis and its aftermath.
We are still feeling the shockwaves of such a crash whether we are talking financially or socially – with people having very clear and immovable opinions on things like Brexit. Is the subject banned around your family dinner table? Martin-Fagg likens the situation to ‘a civil war without the bloodshed’.
The stuttering Brexit negotiations is causing an economic ‘drifting’ in which no one is very sure what is over the horizon. It is leading to young professionals leaving the UK and EU workers returning home. Our bargaining power also appears to be weak.
All this uncertainty is discouraging large businesses from investing in the UK which is impacting the number of jobs available. However, it’s not all doom and gloom. These factors contribute to the Bank of England increasing interest rates. Martin-Fagg states that as the UK is a major trading nation and other nations of the same ilk are booming, we can expect to see a strong rise in the next 18 months. So watch this space.
In terms of our local area and how we are finding the housing market at the moment – we seem to have created our own little microcosm. We have seen some fantastic properties become available and get snapped up quickly and the demand for both rental and purchasing remains high.
If you would like to read Roger Martin-Fagg’s full update you can find it here on the Property Academy’s website.
If you would like to speak to a member of our expert team about your options you can call us on 01494 680018 or email us with your questions. Don’t forget you can also follow your multi award-winning estate agent in Beaconsfield on Facebook and Twitter.
photo credit: By eelnosiva