Housing Update December 2016

What a year we've all come through!

With the obvious exception of the world banking and property crisis of 2008 – an event that still impacts on us all, even today – I can't remember at time in my 17 years as a Spanish property agent when so many events influenced our profession quite so controversially!

We began 2016 with high expectations after 3 or 4 years of steady growth and stable prices. The UK pound was growing in strength against the Euro, encouraging people to buy their bargain Spanish property and fulfil the dreams many had put on hold for several years. Those on fixed UK incomes here in Spain saw their standard of living improve and coupled with the improvement in the Spanish economy we witnessed empty shops and bars re-opening, offering choice and hope of a return to those heady, booming days of the early 2000's.

As sterling headed to the dizzy heights of €1.43 to 1 UK pound (not witnessed since 2007) it was beginning to look like we were on the road to a full recovery.

Our sales - like most other agents - were off the scale; well, at least the scale we had come to accept since the crash. Sold boards were appearing all over Spain and in our local area of Murcia we saw some of the largest increases in sales volumes throughout the country. Buyers from other Eurozone member nations were just as enthusiastic as the British to acquire their place in the sun!

Then came the 23rd June referendum – and by 3am of the next morning it was clear everything was now in a state of flux for UK nationals living all over Europe and of course for other Europeans residing and working in the UK!
Much has been said, predicted and dismissed in the time since Brexit occurred and still we don't really have much to go on or prepare for. The markets are jittery, the public are seeking assurances and the media play their silly games to boost readership and revenue. Then came the crashing pound event of a few months ago followed by the US election result! – Just as divisive as Brexit – yet still leaving people unsure of where things will go next.

Was it good?
Was it bad?
Will things carry on as normal?
Will things change forever?

Well, here's my take on things for what it's worth!
Next year I will still be living and working in Spain.
I will still be selling homes to people looking to live a new life in Spain.
My TV will still be pumping out the same old drivel, speculation and disinformation.
My living standard will have either have gotten worse, better or remained the same!
In that case, not different from the past 17 years then!

Have a great Christmas everyone and more importantly, a Happy, Healthy and Prosperous New Year.

Kenneth Whettall
Commercial Director
Fuente Alamo Real Estate/Murcia Coast & Country
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Tel 0034 968 598 173