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Who will be the winners and losers in the 2010 property lottery? - The Daily Mail

A testing 12 months for the housing market has closed. So what can buyers and sellers expect from the year ahead? GRAHAM NORWOOD looks at who'll be the winners and losers in the 2010 property lottery.

Fasten your seatbelts. The property ride is far from over, and experts warn that 2010 will see more price falls until the recovery starts in earnest in 2011. So, what should your strategy be?

Hang on and do nothing might be a popular move, but there are also ways to be pro-active. The forecast is mixed.

Savills, an agency with a respected research department, says it's likely house prices will drop by an average 6.6 per cent this year. The North of England and Scotland will be down as much as 7.5 per cent, with Southern England dipping just 3 per cent. 

Conversely, it believes there is an outside chance that prices will rise if sellers and buyers conclude that the wider economy is improving - but, if this happens, the market could drop again in 2011, delaying recovery by yet another year.

'The problem isn't affordability,' says Yolande Barnes, of Savills.

'The cost of running a home is low, especially with interest rates on the floor. But the problem is accessibility. 'It's difficult to get a mortgage unless you're an existing owner with equity or a first-time buyer with help from mum and dad or friends.'

Most agents and developers support the Savills view for 2010.