Brits 'believe property market will see upturn in 2010'

Posted: 24 Aug 2009 09:20:33 GMT

Britons are confident about the state of the UK economy and believe that the housing market will be back on track by the end of 2009.

This is according to a study carried out by uSwitch, which found that 6.3 million people in the UK think the recession will be over before next year.

Some 21 per cent of people stated that they thought the property market will have recovered and 44 per cent said they expect the housing industry to see an upturn.

The company stated that this proved property investment was seen as a trustworthy market to be in long-term.

Pre-economic downturn house prices will not be experienced for some time, however, and some experts predict that it could be 2017 before these levels will be seen again.

Campaigning organisation PricedOut.org.uk recently argued that the government should be doing more to prevent a house price boom from happening again.

Katy John from the company stated that this would be "bad news" for first-time buyers.

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