Prices hold, sales drop in 2010
As you can see from House Price Spy property prices are holding 2009 prices with slight regional rises, but it is the number of sales that show an alarming drop. English sales have fallen from 58,000 in October to 18,000 in 2010. This emphasizes the weakness of the recovery, the price rise/hold is extremely fragile with big changes possible in a short time frame.
With the big winter freeze set to end in the next few weeks will we see reluctant buyers venturing out? Prices might even fall when the market picks up, the price stability is linked to an artificially low number of sales, new build and sitting tenants.
With billions pumped into the economy have we really seen enough of any effect? With Greece being the latest country to call in the IMF, are we much better? By many important indices we are worse off than: Spain, Portugal, Greece and Ireland.