Lead us not into recession

"Boom or bust" is the order of today. Whether it be property prices, money markets or global warming, we are fed on a journalistic diet of hyperbole. One lesson that we have learned from the 1980s is that investments can go down as well as up.

So let us not talk ourselves into another recession. Those involved in the conveyancing industry know how important a stable housing market is to the national economy. Interest rates, even at their increased level, are generally low. Add to that the stabilisation of inflation levels not just in this country but worldwide and I believe we have every reason to be confident of a sustained recovery in the housing market.

I am sure we all welcome any positive steps the Government may take to add greater security for both the purchaser and the vendor in the conveyancing transaction. But it is often better to refine and improve than to introduce something completely new. Certainly it provides greater stability. And stability, not radical reform, is what is needed now to help consolidate the renewed public confidence in the housing market, whether that makes good headlines or not.

Jon Horswill, general manager, Legal & Professional Indemnity, Tonbridge