I noted below on 04 April the cyclic trend that when property prices fall they do so in the cheaper areas first. High-end property retains its price level for longer. Conversely, when property price trends are returning upwards it is the high-end property that goes up first, followed by property in the lower price bands. There are separate cash flow equations for the different bands, of course.

Well, it is good news that the ebbing tide appears to have turned. An apartment in London W1 might today cost a cool £48million (yes, I did say £48million!) Investment in expensive London property has been increasingly the object of such a buying frenzy that investors have priced themselves out of a margin and are achieving low yields. “Perhaps 4%” was a figure reported to me last week. I also have it on recent report that an accidental Swansea landlord trying to sell his property and buy one in Bath is finding property prices rising faster in the relatively more expensive Bath area than they are here. The tide appears to be sweeping westward. I am noticing an apparent increase in London investors looking towards our part of the principality. We in Wales appear to be a couple of points above the bottom of the market according to Land Registry statistics and I believe this shall finally be sustained.

I have always been taught and repeated to others in response to the question: “When is a good time to buy property?” that the answer is always “Now!” Yet it is always a better proposition to buy, and easier to achieve during a market upturn. And the best time of all to choose to be looking at property of course, is in advance of one…