What is the property market going to be like in 2012?

Michael Nettleton, Director of Shropshire estate agent Nock Deighton, commented:

“Despite much negative news coverage in the national media, I would predict we are likely to see a steady start to the coming year, with the property market picking up as we head into the summer months. Even now though, there’s no shortage of interested buyers in the local market as the county remains a particularly desirable location. With the ongoing demand for high quality homes across the county, we expect prices to remain stable, and sellers should be reassured that, as long as their property is realistically priced, with the right agent behind it, they are more than likely to attract genuine interest.

“It remains to be seen what sort of impact, if any, government initiatives such as the mortgage indemnity guarantee scheme and discounts for social tenants to buy their own house, will have. Although unlikely, in my view a cut in VAT would be most beneficial. One major cause for optimism, however, is the recent takeover by Virgin Money of the Northern Rock brand. This offers the prospect of introducing a competitive lender to the market which can only help buyers looking to secure finance.”

“In short, I would predict 2012 to be a similar year to the one we have just had. Although tough at times, I would suggest this is no bad thing, giving a genuine cause for a practical form of optimism.”

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