Ask Yourself About the UK Property Market Recovery

I just read an article on the UK property market, by Guardian Money editor Patrick Collinson, his closing statement was one of the most poignant I have read about the UK property downturn; he writes:

"No one in their right mind would sink their life savings into a property if he or she felt it was about to drop 20% in value. And it's the huge number of people thinking like that which will ensure prices drop a lot further from here."

It is a very valid point, and on the face of it, seems so incredulously and obviously true that you just feel it should be made gospel, but is it?

The volume of people who believe the UK property market has got a long way to fall yet is certainly great, all you need to do is take a look on the threads of houspricecrash.co.uk to know that.

But an equally great, if not greater number of people also believe, in fact know, that a recovery is inevitable, that UK property prices will once again grow rapidly, if not this year then next year or the year after but it will happen.

So the fact that prices are going to fall further before growing to a higher level is not going to stop many people, except investors from buying is it?

With that to ponder I say, with prices having fallen as far as they have already: is it possible that the UK property market recovery is not as dependent on the market hitting bottom as it is on banks being able to lend normally again and an end to the wider recession, and thus less fear of job losses?