Buyer Confidence Returns
The average property price in the UK has stalled in its rise, while never plumbing the depths expected by some who predicted up to 40% to be wiped off the value (the average was just 16%) the recovery has been put on a pause by its own success. Due to the large number of properties being put on the market in the last 6 weeks the expected price has actually fallen, despite this the market IS more stable.
The main problem with the 2009 recovery it was based on too few sales to be a reliable one in the medium term, subject to wild fluctuations from week to week. With increased sales comes confidence that gradually the market will build up to what it was rather than slipping back to 2007 levels.
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