Well 2011 has gone and good riddance, The last 12 months has not been very kind to the UK housing market, with prices to rising at a painfully slow pace.

Will 2012 be any better? We hope so.

Remember there is still very challenging times for the economy. The mortgage market remains very limited which is why intermediaries can play such an important role to help inform consumers about the best products available and what is right for them.

The National Association of Estate Agents (NAEA) believes the UK housing market will see a gradual recovery over the next 12 months and that the gulf between the North and South will continue widen, Peter Bolton-King, the NAEA Chief Executive, recently commented that in his view "What we will see in 2012 is a continued increase in 'micro-markets' across the country. Demand for property in some areas fuels a healthy market while other, less desirable areas, are in danger of being left behind.

House prices

House prices edged up by an average of 1% for the whole of 2011, according to a Nationwide report. This can hardly be described as a strong performance for the UK housing market, yet despite all the economic gloom and doom, especially with the Euro-zone crisis ongoing, house prices were 'surprisingly resilient in 2011', according to Nationwide's Chief Economist, Robert Gardner. This brings the typical price of a home in December 2011 to £163,822. In a bid to stir up the housing market, the government has announced a wave of housing reforms which allow first time buyers the chance to get a 95% Loan-to-Value mortgage.

Property South West will do its upmost to keep you posted on the housing market in 2012 and if you're in the process of house or merely exploring the possibilities we wish you every success on your journey.

In the mean time, sit back and enjoy this issue of Property Southwest and most of all, happy hunting!

Enjoy the magazine.

You can also read the latest edition, online! Just click here.