The below market value property sector is seasonal as are many other industries. This is especially evident in the lead up to Christmas as the property market slows down. It was reported last week that asking prices fell by 1.6% between October and November. This is the first fall in 3 months, which according to RightMove means the average house price in the UK is £226,000.

So what does this mean for the BMV property market? Well, it probably means less demand for property and further price drops until next year. Also because the festive period is the most expensive time of year for many homes, this means additional financial stress in a time when every penny counts. Maybe January and February 2010, will see a sudden influx of repossessions on the market. Recently the CML re-adjusted its prediction for the volume of repossessions down from 75,000 to 48,000.

In contrast there are more properties on the market this year than for the same period last year, and in most regions of the UK asking prices are higher. These are both positives for the property market, but it seems recovery will be slow for some time to come.

The property market mirrors consensus in the general economy, a long slow recovery in the property market probably means the same for the rest of the economy. It’s going to take time but there are still investment opportunities out there, if you have the money to invest. If you are interested in sourcing property, you can sign up on our home page to receive a list of our top investment properties.

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1. UK BMV Property Market.
2. The Property Market in the New Year
3. BMV Properties a recession investment
4. Property Investment with Credit Cards