A recent RICS residential property market survey has indicated a rise in house prices throughout the UK of 2.3% since the start of October. A shortfall in supply of property has largely been attributed to the price increases, along with an element of recovery across a range of property profiles. An increase in the number of recently completed transactions has also helped in the stabilisation process as market confidence is steadily restored.

It is broadly expected that an increase in property supply will result in the restoration of property values back to a positive equilibrium level, upon which further stability and confidence can be built. Throughout 2009 it has become apparent market activity indicators have continued to improve with a proposed pattern of improvement emerging for 2010. What will remain key to any residential market developments is the announcement of an election date upon which further analysis can begin to develop.’