UK Property Market slump doesn’t look set to improve till 2010.

According to the BBC, it has been reported this week that some estate agents have been selling fewer than one home per week in the past three months showing that the slump in the UK property market is continuing with little sign of improvement.

The Royal Institution of Chartered Surveyors (Rics) said sales were at their lowest level since its monthly survey started in 1978, and that the continued shortage of mortgage funds was "stifling" buyers.

Until a wider range of mortgages become available it seems that the problem is not likely to get much better. Rics spokesperson Jeremy Leaf stated, "A lack of mortgage liquidity is the key issue which is keeping the housing market from showing any real sign of recovery, "While money is scarce, many will continue to be denied the next step on the property ladder.

"The Government's stamp duty policy will not be enough to kick start transactions," he warned.

Meanwhile, the head of the Nationwide Building Society told the BBC that he expected house prices to fall by 25% from their peak last autumn. Graham Beale also said he does not expect to see signs of recovery in the housing market until 2010.

If you have been affected by the housing market slow down, you may find yourself in a situation where your property has become empty pending sale or that you have had to accommodate a lodger or rent your property out. Don’t forget to make sure you have adequate property insurance for these situations. Many homeowner insurance policies only allow a certain period of unoccupancy meaning that a potential claim may be invalidated if a claim occurs outside the specified allowance. Click4Quote.com offer Unoccupied home insurance along with Landlord Insurance if you decide to rent out a property. In addition to this we offer Home Insurance which can accommodate lodgers if you have decided to part let your home to ease these increasingly harder financial times.

If you would like to discuss any of this you can email us at enquiries@click4quote.com or call us on 01206 771755 to discuss your options, and how we can help.