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Housing market tipped for stop-go year

16 December 2009

Those considering taking out mortgages in early 2010 could be faced with a stalling market, it has been predicted.

The National Association of Estate Agents has predicted that the first part of the year will be a static one, with prices either unchanged or slightly lower, while there will be no acceleration in the increase of the number of homes on the market.

It suggested that these situations will change in the second half of the year, partly due to the general election that must be held by June.

Some would-be buyers might stall on their purchases due to the uncertainty of the outcome, but afterwards there should be a rise in supply and values as the market picks up.

The NAEA said a significant increase in housing availability could be helped by the scrapping of home information packs, something the Conservatives have pledged to do if they win the election.

In its own bid to predict the shape of the market in 2010, the Building Societies Association polled 2,000 people, with the result being that the average prediction for prices is that they will rise by three per cent in the coming 12 months.

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