Predicting the bottom of the UK housing market is fraught with difficulties to the extent that several organisations that usually provide statistics in this area have declined to provide forecasts for 2009. Predicting prices at present is nigh on impossible, partly as any view has the potential to become a self-fufilling prophecy and partly because the factors driving the current decline are unprecedented and there is no clear roadmap.  

 We are however seeing increasing evidence that, in certain areas, price falls are beginning to slow and cash buyers are beginning to come into the market. This is being driven by more’realistic’ prices at the distressed end of the market and the reconigition that rental yields at this end are in many instances double digits. In addition, shortgage of property in more prosperous areas is having an impact.

There is a very good article in todays “Times”, focusing on the above. Whilst we are not claiming that this is the end, it may, in the words of Chuchill, “be the end of the beginning”.