According to Isaac Newton, what goes up must come down. Fortunately, in the property market at least, what goes down must also come up. At least that is what happened in the 70s, the 80s and the 90s, after periods of recession. Now it looks as if history is repeating itself.

Estate agents are always glass-half-full people. But can anyone have failed to notice that things are on the up? High Street spending is up, employment is up, manufacturing is up, GDP is up, the service sector is up, lending is up and the property market is up. In fact the property market is back with a bang!

Whilst it has been reported that house prices in the West Midlands region have increased over the last year, it would be extremely foolish for anyone to think that things have simply picked up where they left off in mid-2007, with totally unrealistic property prices being supported by wild and reckless lending.

The world is now a very different place, and we have a very different property market, with far more realistic attitudes being demonstrated by buyers and sellers alike. But there seems little doubt that the corner has finally been turned and a good recovery is underway. Certainly sales are now running at their greatest volumes for at least 5 years.

Is all this a blip? It is now looking unlikely. The planets seem perfectly aligned for growth in the property market. This is a great time to buy or sell. Low interest rates, plenty of choice, keen buyers, less reluctant lenders – the market is set pretty fair.

But no matter how the market looks there are still some things we must watch carefully. If purchasing, we need to keep an eye on interest rates – they also go up as well as down. If selling we must not get too ambitious and let our enthusiasm for achieving a top price blind us to reality.

A glut of properties in the market means a lot of choice for buyers, and buyers never select an over-priced property when a sensibly priced one is available – would you? This is a time for level headed buying and selling - remembering that whilst property prices can go down then up, so can interest rates.

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Readers who submit articles must agree to our terms of use. The content is the sole responsibility of the contributor and is unmoderated. But we will react if anything that breaks the rules comes to our attention. If you wish to complain about this article, contact us here