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People often ask me what's going to happen
in the property market next. I'm happy to
share my thoughts and observations, but
another way is to simply take a look at the
key indicators of the economy.
Ofcourse,theeconomyisn'ttheonly
thing affecting the market ­ it's also affected
by social trends, such as the aging population
and more people living alone, creating
higher demand for apartments. Government
incentivessuchastheFirstHomeOwners
Grant can also have a big impact, but the
fundamental driver of the property market is
the economy.
Why is this the case? Because property is
an expensive item and people are not about
to make major financial commitments when
they're worried about the economy. Here are
six economic indicators to keep an eye on.
John McGrath is Chief
Executive of McGrath
Estate Agents.
If you want to gain a greater understanding of how the property market works,
John McGrath recommends observing several key economic indicators.
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