The property market has had a rough ride over the last 18 months and we are starting to see some stability at last.  As a result we can now give more informed advice to our clients on the market and on pricing.  I am sure that we can only build from here.

According to the CML, while the property sector is still facing challenges, existing borrowers are benefiting from lower interest rates.

The CML said: "The raft of measures taken by the authorities have stabilised the economy and will sow the seeds for a recovery over time, including in the housing market.

"But the improvement is likely to be slow and drawn out."

New research from Rightmove suggests that an end to falling house prices could be in sight.  The property website asserts that fewer new homes coming onto the market coupled with increased interest from buyers could be behind the change.

Figures from the site show that the number of new vendors has slowed whilst the number of buyer enquiries soured to 429,560.  Buyer inquiries in the first two weeks of January 2009 were over double those in the same period last year.

Miles Shipside, commercial director of Rightmove comments: "The speed with which prices have declined has been worrying, but it does mean we are potentially reaching the bottom sooner."

He adds that, for would-be buyers, 2009 could be the "year of the property deal", suggesting that cheaper prices and mortgages will help people get on the ladder.

The outlook for net lending appears better than first thought.  Net lending is now expected to fall by five times less than previously anticipated. 

While conditions in the housing and mortgage markets remain extremely challenging, existing borrowers are gaining some significant benefits from the effect of lower interest rates. This factor, taken together with the significant levels of forbearance being shown by lenders and the government's interventions to improve support for some struggling home-owners, has resulted in a more buoyant forecast announcement by the Council for Mortgage Lenders.  

The CML observes that: "The raft of measures taken by the authorities have stabilised the economy and will sow the seeds for a recovery over time, including in the housing market”. Things will improve even further as the extensive fiscal, monetary and credit support measures are gradually unwound.

There are clearly signs to help restore and build on consumers confidence in the housing market.   We are here to give advice and support.