January – Snow stops play and the market is non-existent. Agents and vendors are however quietly confident.
February – Properties come onto the market at 10% – 15% above 2009 prices as confused Agents hedge their bets on pricing. New stock levels low.
March – Lack of stock continues thus bidding wars on good property. Good properties getting close to 2007 prices. Difficulty getting mortgages. Cash is king. Rentals in demand as people cannot finance purchases. Market fairly confident although transactions low.
April – Bidding wars continue, still lack of stock, both sales and rental, rental prices start edging up. Difficulty getting mortgages.
May – Election jitters start, buyers sit on hands.Vendors don’t come to the market. Still lack of mortgages. Lack of rental properties mainly due to buy to let landlords unable to finance new stock, rents continue climbing.
June – Election causes even more stasis in the market, rentals highly in demand. Hip’s disappear along with market confidence. Central prime London awash with overseas and cash buyers.
July – Transaction levels still very low, mortgages still unattainable for many. Rental market woefully undersupplied for demand. Rents continue to rise. Fear rips through all with a stake in social housing.
August – Summer holiday stagnation. Rental market still busy. Mortgage availability just a distant memory. Overseas cash making central prime London boom.
September – Expected surge in new property doesn’t materialise. Good properties still reaching good prices. Rental market plagued with lack of stock- sealed bids starting. Mortgages easily available but only for those who don’t need them.
October – Sales stock low, confidence for buyers and sellers getting lower.
November – Confidence through the floor. Vendors not selling, buyers not buying. Rental demand still very high with sealed bids still being reported.
December – Snow stops the country and the property market in it’s tracks.
We started 2010 crunching confidently through the leftover snow but we end it tiptoeing gingerly, fully expecting black ice around the next corner.