Fragile Market falls
As you can see from House Price Spy the gains that have made us all forget our money woes are based on a tiny number of sales and in fact are based on a third of the total number of sales (17,000) than just a couple of months ago. Prices themselves have slightly fallen on average but holding steady. Anyone predicting a rapid recovery will be out of luck, as indeed will anyone who needs to move home during 2010.
Are there hundreds of people waiting to sell? Will there be a spring thaw of prices, seeing sales hit the roof? How will the government unlock the combination that will see the market come to life again? The finance sector is still recovering, with billions of pounds put back into the economy by the Bank Of England and consumer confidence fragile. Taxes and prices are set to rise rapidly in 2010 and the public will shoulder this burden, how will the BOE and government address this?
2010 will certainly be one of change, an election, ISA legislation and various property related bills moving through the Houses.