I wrote last week that I was thinking of selling one of my early purchases because I could not let it.  As soon as I mentioned that I was going to sell Alex in the office informed me that it is now let.  It got let for £599, way less than what I wanted of £999, however I can live with that.

 

I still want to test the market and see whether all what is being saying about the pick up in interest is actually true.  Someone very close to me has just sold their house in central London for virtually their asking price.  And they are going on to buy a home worth over £1m as a result.

 

So central London seems to be fine.  I wonder where else is fine.  I have a theory it will be London for this quarter and home counties the next.  What is scary is how things can change so quickly.  If I think back to just 6 months ago we were staring in to a black hole.

 

FTSE was down

GDP was down

Unemployment was up

Property prices were nose diving

Mood was down

 

Today looks different.  The FTSE is rallying, GDP growth is predicted for 1^st quarter next year, property prices are on the rise and mood seems to be shifting.  All we need is some positive news about unemployment figures.

 

Let us not forget.  People having jobs are paramount.  This is the only thing that will drag us out.  It is all great about the positive news however:

 

FTSE has only rallied up from a really low point and by not much

GDP is not growing yet

Property prices have risen only slightly

 

This is only the 2 veg portion of a meat and 2 veg dinner.  The meat is the unemployment and we want some MEAT! 

 

So keep an eye on the figures.  Unemployment at 2.4m and rising at 200,000 per quarter.  Lets see a less severe figure for next quarter and then we can start to breathe more easily.

 

Speak soon.

 

Ajay

 

PS reserve on of my packages due in on the 26th August.

Posted on: 14th Aug 2009

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