Property pick-up is imminent, says expert

The next few months will see the UK's property market improving, it has been predicted.

Stuart Law, Chief Executive Officer of Assetz, said that the bad weather and end to the stamp duty concession meant that purchasing activity was restrained at the start of this year.

However, the rest of the year is likely to be more positive as circumstances start to improve, he suggested.

He continued: "The UK housing market was growing at 11 per cent per year until the end of last year and we didn't think it could carry on at that rate."

Mr Law indicated that there are still concerns in the mortgage market, with a double-dip recession possibly still on the cards.

Result from the latest housing index published by Rightmove earlier this month, there is a virtual price standstill as new sellers ask just 0.1 per cent (£216) more for property.

Posted by Ruth Bradshaw