THE New Year is set to look brighter for people who want to sell their houses in Wanstead and Woodford.

Prices rose by nearly six per cent nationally in 2009, according to Nationwide and 2010 is looking much more “buoyant”, local estate agent John Wagstaff has said.

Mr Wagstaff, of Petty, Son and Prestwich, in Wanstead High Street, said: “Basically, in 2009, the underlying trend was upwards but mainly, we saw a recovery from the losses of 2008.

“The rise we saw was in the first half of the year and prices seemed to steady for the second half, while the last quarter was quieter.”

Guy Williamson, senior partner at Douglas Allen in Woodford Green, added prices had so far remained stable as 2009 ended.

He said: "It's looking fairly positive - it really hinges on how many properties come on to the market.

"If the market isn't flooded then prices will be fairly stable."

He added that the overall picture in Wanstead and Woodford was positive and that eight in 10 sales were going through in 2009.

Mr Wagstaff also said sales trends had been completely reversed, with the usually quieter months in the summer seeing a boom in sales.

He said: “May, June, July and August were our busiest months, which is not in any way typical.

“Demand is catching up from the previous 18 months. There's a strong demand from quality buyers.”

Prices rose in Redbridge by 0.5 per cent in December, with the average price now at about £271,000.

Mr Wagstaff said: “We've seen a much higher percentage of sales going through – in another market, we've seen one in two sales going through.”

Across the UK, the average house price rose by 0.4 per cent in December and 5.9 per cent throughout 2009, following a 15.9 per cent plunge in 2008.

And in spite of the problems of 2008, Nationwide has said the last decade has been the strongest on record for house prices in Britain.

Mr Wagstaff said: “2010 is looking much more buoyant than the start of 2009. More properties are coming to the market.

“Generally, there seems to be more activity.”