Property market recovery is just ahead

...or maybe not...

From today's Telegraph....

Around a third of flats and 26 per cent of houses have failed to sell during the past six months, while 10 per cent of flats and 7 per cent of houses have been on the market for more than a year, according to property website Globrix.com.

The group said despite interest from potential buyers picking up during the past few weeks, falling house prices and the shortage of mortgages meant sales had remained static.

No let up in sight for London property woesIt said one-bedroom flats, which are traditionally popular with first-time buyers who are most likely to struggle to get a mortgage in the current market, were proving the hardest to sell, while three-bedroom family homes were most in demand.