January 2010

Will 2010 bring about any major changes in the property market?
Traditionally the new year brings a flurry of activity as individuals resolve to make changes to their current lifestyles, but are they enabled to do so? We are still in the grip of recession and job security is as shaky as ever.

There remains a dearth of property in the £600,000 – £1million sector leaving many able buyers frustrated at their lack of ability to secure a new home and increasingly vendors are choosing to market their properties quietly to specific buyers.

Speculation regarding the election will influence many decisions on whether to buy or sell property and individuals may hold off acting until the outcome is determined, possibly into the summer.

2010 may well be the year of realisation of the true apocalyptic nature of the property crash. Values are being held up by lack of stock with the true underlying level being much lower than is perceived, any kind of sustained recovery is a long way off yet.