It certainly is on the up - bolstered by government intervention, low interest rates, and an increased willingness on the part of banks to lend. Confidence has returned, and whilst many are jumping at the opportunity to sell, many more are queued up to buy. Whether it's a short term blip, or the start of the next price drive, only time will tell.
What should give us all more confidence are the comments of the chancellor, (see http://bit.ly/1g2TFdE) who's basically conceded that in 10 years time there will still be a massive housing shortage in the UK. At a simple supply and demand level this is good news for investors surely - it would be hard for something that's in short supply to depreciate in value over a prolonged period of time? Savills seem to agree, and are forecasting growth of about 30% in our region over the next 5 years (http://bit.ly/1aufFzO). It's a changed market from 12 months ago when prices were steady, and purchasers had time to make up their mind about what they were buying - anything half decent gets bid above asking price within 48 hours currently.
