Buyers will have more choice and prices will be more competitive in this year’s property market.

Although those in the property business are forecasting another difficult year, Matthew Sinclair, director of Saint Property, Edinburgh, also predicts a positive side, with those who are in a position to purchase this year having much more choice.

‘There is always apprehension when an election is on the horizon. In 2009 the market has been driven by lack of supply.  The second half of 2009 has shown an increase in transactional activity, with the deals that have been done being predominantly cash-based. Going forward, buyers will continue to require a significant cash element to make a purchase and get the best deals’ he says.

He also comments that the top end of the market with properties costing upwards of £1 million would be hit hard again and more property would become available. ‘We c an expect to see some large properties on the market, some of which hardly ever change hands, both in terms of residential and rural properties, including farms and estates,’ he says.

Matthew Sinclair also thinks that it is likely that there will be a period where supply outstrips demand, and if the interest rates move upwards, that supply will continue to grow and buyers will have more choice, with prices being more competitive.

Tags: forecast 2010, Matthew Sinclair, Property, Property prices, property search agent, property-buying, Saint Property, Scottish property