Some journalists and estate agents are optimistic by nature, just like others who are pessimistic. Lately many of the latter have been converted into the former by data coming out of estate agencies up and down the country.

Many agents and surveyors are predicting that he house prices will start to move upwards within the next 3 months. They attribute this to an increased level of interest among buyers, and a shortage of properties  to choose from.

This view is further helped by the reported rise in the offers being made and accepted on properties in many parts of the country. There is definitely a higher interest among potential buyers right now, some agents believe.

The Royal Institution of Chartered Surveyors (RICS) says that the toral number of estate agents predicting a rise are higher than those predicting a fall for the first time since 2007.

However the policy makers do not seem to be party to agents' and surveyors' enthusiuasm. They say that willingness to buy a property is great but more important factor than that is a buyer's abulity to complete the purchase. This is a clear reference to many buyers still struggling to obtain mortgages.

Charlie Bean, deputy governor of the Bank of England, recently said: “It’ll take some time before banks feel in a position to lend more money.”

Although the UK treasury has announced Asset-backed Guarantee Scheme (ABS) to boost lending, the Communities and Local Government Select Committee, an influencial committee of MPs recently said that this scheme is "doomed to fail" as the lack of mortgage finance was a contributing factor in the lack of activity in the housing market and not the willingness to purchase the property.

Many estate agents also agree with this. Jeremy Leaf, a RICS spokesman, said in Times: “It is unlikely that there will be a sustained upturn while mortgage lenders remain risk averse.”

 

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