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Are we in danger of talking down the UK property sector?

Despite the fact that the UK property sector has probably performed better than 99% of analysts had expected in 2009, the recent press has been full of stories about price falls in 2010 and a drop in demand. There is the potential to actually talk ourselves into a property decline in the short term which could prove catastrophic in the short to medium term.

Even though it is obvious from the figures made available that various property hotspots around the UK have been supporting the vast majority of the price rises we have seen over the last few months, demand is starting to seep back into the market. We need to see UK banks and UK mortgage providers in particular step up to the mark with competitive offers which will also allow first-time buyers back into the market. First-time buyers are the lifeblood of the UK property market and without them it is difficult to see how a sustained recovery could emerge.

While there are still obvious concerns about the rate of unemployment in the UK, we need to take a more positive outlook in the short to medium term and at least try not to talk ourselves into a further recessionary slump for the UK economy and the UK property market in particular.

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