Herd mentality is a regrettable truism. In the context of the property market it means that the majority of pent-up buyer demand cannot and will not be sated until recovery can be established. Unfortunately, recovery cannot be established until others – opportunistic buyers, usually cash buyers – have bought and prices are rising once more. Consistently rising prices are often viewed as the antidote to other market vulnerabilities, such as oversupply and pending taxation or...
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