Buyers move into pole position in housing market

At the start of 2010 there were high hopes for the UK property market with signs that the market was stabilising and looking to move ahead in the short to medium term. However, problems in the European economy, liquidity issues and concerns about the UK economy, in particular ahead of the budget, have had a massive impact upon sentiment. It now looks as though buyers are in the ascendancy although many remain on the sidelines under the impression that house prices will fall in the short-term.

We're now in a situation whereby constant negative comments about the UK housing market are playing upon the fears of UK house buyers and sellers. It seems only a matter of time before we see a significant reduction in property prices and if you were in the shoes of a buyer would you really rush in?

It will be interesting to see how the UK property market performs in the short to medium term against this background of constant negative news and concerns about the underlying state of the marketplace. However, one thing looks almost certain, the power of buyers is now in the ascendancy and sellers may well have to work harder and reduce their prices to secure a sale in the short-term.