As we move towards the final quarter of  the year, now seems a good time to hear from those at the sharp end of the market ( that'll be all of us then) as to how they've seen the past nine months and more importantly, what they anticipate for the next six.
 
Apparently 77% more mortgages were granted in July 2009 than in 2008....supposedly the seventeenth month to see an increase in lending.  Some 38100 mortgages were granted....still well below levels of  2005/2006 but, according to The Times, a pointer to the market beginning to recover somewhat.
 
Fenella Russell-Smith of Hamptons International in Clapham Common sounds a bit more positive than that however. "2009 started well, and has continued to improve with prices moving upwards by around 15% over the last three quarters". Sellers deciding to stay put obviously limited the stock available on the market, creating an increase in demand in this highly sought after sector of London.  This, combined with low interest rates has helped a number of commercially astute "City" applicants looking for that "young family" home and securing fixed low rate interest mortgages to assist in buying it.
 
This clearly is not representative of the London market...but it's an indicator for a particular sector,and while there has been a demand for a particular type of property,there's been a corresponding willingness to pay for it.  In fact, Fenella goes as far to recognise that in some instances "competitive bidding for properties, and even gazumping " has made a return.
 
A little further north-west, Christopher Bramwell at Savills in Chiswick puts it a little more pithily:  "....Chiswick is subject to a severe lack of supply of good property for sale. There has been a significant change in sentiment amongst buyers in the last three months..........with genuine purchasers chasing shrinking stock levels. "
 
However, a note of caution. "The property market shadows the economy.......a worsening economic outlook (significant hikes in the interest rate for eg) could erode this year's growth in the space of a quarter"
 
So... a view from two different arenas. There will be more to follow as we cover other sectors, but the mood seems to be cautious optimism, and no sudden lurches in the economy to induce panic followed by complete inactivity.
 
So many factors,individuals and trends will combine to pull us through this recession that it's false to suggest that the future of the housing market rests in one pair of hands.
 
But if the metaphor isn't entirely inappropriate, lets hope the hands are those of a watchmaker.
 
Or should that be bomb disposal expert?