Brits who are redecorating their home with new polished porcelain tiles with a view to selling up and moving on in 2012 may find the market is much the same as it was last year.
Chief executive at the National Federation of Property Professionals Peter Bolton King asserted transaction levels will remain at 2011 levels, citing the current economic climate and more restrictive lending conditions.
He also denied the concept of there being a single, unified national property market, as it is divided into many micro-markets.
"You are going to get property prices in London and the south-east staying the same or maybe in some places shifting upwards. You will get other places where they will stay the same," the expert commented.
There could be further divisions within the capital, as director of residential research at Savills Lucian Cook recently claimed there is an east-west divide in terms of price levels.
