…it all depends on what you read.

Hardly a day goes by without someone making another announcement about house prices.

Are they up, down or bumping along the bottom? It all depends on whose announcement you read. For instance, yesterday (2nd April) Nationwide Building Society said prices in March rose by 0.9%, cautiously describing it as a ‘surprise bounce’. But at the same time, Richard Donnell of Hometrack said they had fallen by 0.6%. The Bank of England reports a rise in mortgage approvals for February. But that has to be set against the stark fact that this improved figure is still 44% less than in February last year.

Howard Archer, an economist at IHS Global Insight, reports an increase in buyer interest through estate agents, and that this, coupled with the modest rise in mortgage approvals, suggests a bottoming-out of the market. But analysts also opine that although ‘activity’ has passed its low point, prices will continue to fall: by another depressing 15% in 2009, according to Archer. And Nationwide’s chief economist Fionnuala Earley thinks it’s more likely that this new activity is from buyers who just can’t wait any longer, rather than the beginnings of real recovery.

The truth is that no-one has a crystal ball and many factors will affect the short to medium term future of the housebuilding industry. Even if we do see some signs of recovery, it is likely that we will also still see intermittent setbacks as we continue to battle with the complexities of the global financial systems.

However, what we can say with confidence is that by carrying out a ‘strategic marketing healthcheck’, we can help maximise opportunities in the short term and create a robust platform ready for when markets improve. For an informal discussion on how BradleyDyer could help your business through these difficult times call me on 01737 249479.