By James Forrester, Managing Director - Barrows & Forrester & StripeHomes
Let’s go back. It’s April 2020 and property experts are almost universally aligned – house prices are going to crash due to the recently declared pandemic.
Prophecies of doom ranged from a drop of 5% by some to as much as 35% by others. The so-called experts that lined up to flog this particular whipping post of negativity ranged from the Bank of England to HSBC to Lloyds to Knight Frank, Reuters and the Royal Institution of Chartered Surveyors – these are big institutions of UK property.
The media thought that this all made sense in the face of a global catastrophe and so went to work doing what they do best and proceeded to pick out the worst bits of the worst press releases issued by these and other organisations and then sold lots of ads and papers by ‘explaining’ that each of us that owned a home was about to watch our property equity disintegrate faster than a politicians’ promise...