The Euro zone is in crisis. We really are in a quandary over austerity versus growth. The French disagree with the Germans and the British disagree with everybody. What should we think or do?
In London there is little doubt over what many mainland Europeans are doing – they are piling into residential property in our capital. We do, at least, have a property market that seems to provide an attractive haven for money in these difficult times.
Our local experience, while not quite reflecting the market in London, is that property is trading and for a property at the right price it is trading well. This is contrary to media commentary. Within the residential sector there is the growing realisation that nothing will ever be quite the same. Perhaps we are at a moment in history when everything changes forever through this financial revolution.
We are not out of the woods by a long chalk. The Euro zone problems, Greek and Spanish debt and the further pressure these bring to our own banks – already coy about leading money – will create further challenges. But overall there seem two very good places to be at the moment. One is in Britain and the other is in property.