"These figures are disappointing but not unexpected. However, NAEA members reported a slight upturn in activity towards the end of December, with both buyers and sellers showing an increase in interest. Furthermore, early indications are that the market has picked up significantly in January.
"If there is any chance that these much discussed greens shoots of recovery are to take root, it is up to Mervyn King to live up to his promise to do everything possible to bring fluidity back to the market. NAEA can confirm that there are bargains to be had in the market at the moment, but if the banks won't increase lending this upturn in the market will be short-lived and consumer hope will be dashed again."
