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How should we expect property prices to perform in 2010?

The release of the Nationwide property survey of the UK makes great reading for investors and home owners across the country but what about 2010? Can we expect more of the same or is this ongoing recovery in the UK property market not sustainable?

Unfortunately, yet again we have seen another third-party attempt to bring UK property owners down-to-earth with Savills suggesting that UK house prices will fall by 3.1% in 2010. This is a revision of an earlier forecast of a 1% rise in 2010 with the renowned and respected estate agency concerned that recent gains will not hold. It would appear there are significant concerns regarding the patchy increase in prices around the UK with some of the more desirable postcode areas attracting much of the attention.

We then have the issue of mortgage liquidity which again is very low even if the UK government is currently attempting to force banks to increase their lending to consumers and businesses. Even though we have two property surveys in direct confrontation with each other the truth is that nobody really has a clue as to the future direction of the UK property market. However, a number of analysts are hoping that the momentum will help push the economy and property market higher in the latter part of 2009 and 2010.

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