The housing market thaw: 2010 Update

As many blame the bad weather for lack of housing market activity, here's what industry experts predict for 2010.

January 2010 property market summary

"Houses prices are selling at asking price and pre-credit crunch values." 

Says ludlowthompson - estate agency with 10 Area Offices across London

Suzanne Gray, Director of Sales comments: "As soon as house sellers realise the buyers are there, we hope they will have the confidence to sell property again.

The ludlowthompson 0% prize draw for estate agency services is a way for us to raise awareness of the market demand."

"House prices have risen by 10% since the bottom of the market"
Says the Halifax

Summary report from the Halifax -

• House prices have risen for 7 months in a row
• In January house prices rose by 0.6%
• Low mortgage rates have boosted housing demand
• Low supply of properties for sale has pushed up prices
• House prices will flatten during 2010 as supply of property for sale increases

"House price are set to rise by 6% in 2010"
Says the Centre for Economics and Business Research

Summary report from the Centre for Economic and Business Research

• CEBR revised it's forecast for house price upwards from 4% to 6%
• House price rises caught many market commentators by surprise
• The market is healthier than expected:
  More mortgage lending, low interest rates, shortage of property, unemployment rates lower than forecast.
• It forecasts house prices will increase on today's prices by 20 per cent by end of 2013

"The New Year brings renewed consumer confidence"
Says The Nationwide

Summary report from The Nationwide

• Survey respondents expect their houses prices to be 1.1% higher in 6 months time
• Consumers are more positive about the economic climate and employment

View the full report - Consumer Confidence Survey January 2010

Land Registry report for average prices in London

Last quarter of 2009 - house price rises:

December - +1.5%
October - +2.0%
November - +1.4%