February burst of activity expected as sellers face reality

The property coming onto the market over the next two months is also likely to be of much higher quality, as over-geared financial workers find they cannot hold off from selling any longer.

James Hyman, partner for residential sales, said: "As homeowners face up to the fact that the market is not going to improve significantly in the short term, we can expect an increase in properties coming onto the market at realistic prices – around 25% from the peak price of August 2007. This will bring about a return of competition among sellers – who prices lowest, wins.

"While transaction levels will increase moderately in the first half of the year, we will not see a return to healthy activity levels for some considerable time. People will no longer be building equity quickly and moving on every two to five years, as they have done in the past."

Do you agree – is the market going to burst into life any time soon? Tell us what you think using the comment section below