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Supply and Demand is Key to Market

For those of you who missed it, see below for the Hereford Times Market Comment, written by our very own Steven Thomas in last Thursday’s copy.

Statistics are an interesting subject! Identical data may be manipulated to present what the author wishes to show.
Do the percentage guesstimated rise and falls actually mean anything and where does the information come from? test’s

The market is driven by different factors, for example two people wanting the same house on the same day can distort the market massively.
My advice is to carefully consider internet-generated valuation advice, and then largely ignore it.
The property market, like any other, is generally driven by supply and demand.
Stock levels over the last 6 months in Hereford have been low, and on that basis we would have expected prices to have risen; but has this been the case?

2016 surprised us all; the result of the US election, the Brexit Vote and StampDuty Changes, none of which were predicted by statisticians or polls!