Telephone research carried out by Easier2move revealed that 39% of estate agents and 50% of brokers believe that the property market will wait until the end of 2010 before recovering.
However, the telephone survey revealed that recovery may even take place a little sooner with 35% of estate agents and 41% of brokers more optimistically predicting a “return to form” for the housing market by the end of 2009. Some perhaps overly optimistic respondents even predicted that we may see the market pick up before the end of 2008 – estate agents (4%) and brokers (1%).
Robin Marcus, director at Easier2move commented: “It is worrying to see that the majority of experts – those who deal with this market day in and day out - can not see the housing market staging a recovery until late 2009 or early 2010. This sector has for a long time been a strong dynamic force in the UK economy. Therefore, Government and industry need to work together to improve the situation as soon as possible to avoid serious damage to consumer confidence as well as further serious financial problems.”