Phil's Bouncy Prediction....

Down South this week, I was fortunate enogh to meet with Phil Spencer (I knew him before he was famous) at the Kent Design Awards. The popular presenter of TV's Location, Location, Location, predicted that the housing market is set for an "almighty bounce".

Phil admitted to me over a pot of tea and a jammy dodger (take note Pater) that the present situation was not very encouraging but it was just a question of time before the market returned.

He said the number of housing transactions had fallen by 60 per cent, but in normal times around a million people moved every year.

Phil said it was quite possible that two million people would want to move when confidence came back, especially if interest rates stayed at their present low level. "Things are going to get very busy," he said.

With housebuilders mothballing developments, he was worried that there would not be enough properties to satisfy demand.

"The longer the downturn lasts, the greater the shortage of housing is going to become. It adds weight to my belief that at the end of all of this, there is going to be an almighty bounce in terms of activity and pricing levels."

Well lets hope he's right and things get back on track quickly. Prepare to move fast if he's right...

Although I like Phil, I'd have much preferred to get Kirsty's views on this ;-)

Yours until next time.

Jackson Jr.