Cold snap for vendors before the green shoots of spring

Recent figures from a major internet property sales portal have revealed December asking price drops of just over 2% with many predicting small reductions in asking prices next month, as vendors adjust their expectations for this traditionally slow time in the UK property market.
Some of the more bullish London agents are predicting London property prices to rise above 5% next year as there is a continued lack of quality stock coming to market.
The number of properties being marketed has risen and as this continued supply hits the market it should act as a brake to slow the current unsustainable levels of house price growth.