Property market recovery ‘to kick-start in 2010’

Next year will see the property market recovery begin in earnest, it has been predicted.

Company director at the Little House Company Jane Marr suggested that the real revival will be taking place next year, on the basis that the price rises seen in 2009 have been based mainly on a lack of supply compared to demand.

She said when the two are more in alignment the upturn in prices may stop for a time, but will recommence once the more concrete factor of widespread confidence re-emerges.

“It seems that 2010 will be the start of a real recovery for the UK housing market once confidence from both sellers and buyers returns,” Ms Marr forecast.

The comments come as new house price surveys indicate that the average UK home is still rising in value.

During October, prices increased by 1.2 per cent according to Halifax, while Nationwide put the level at 0.4 per cent.

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