Just when the property pundits thought  things couldn’t get any worse they suddenly got better.

A quarter percent drop in the borrowing rate has been announced by the Bank of England and another is expected in the New Year.

This has brought some Christmas cheer to the property market which  had an early start to the normally quiet December period brought about this year by problems in  international banking and the Northern Rock affair which gave many buyers the jitters but  now shows signs of being resolved.

This bonus for homebuyers is the first drop for 2 years and is designed to re-assure borrowers that things aren’t nearly quite as bad as the press would have us believe.

“ The press don’t seem to seem to realise that a slowdown at this time of year is a regular occurrence in our business” said veteran estate agent Peter Jackson of Robinson-Jackson “ This rate reduction is a signal to us that the new year will bring an even bigger flood of  home buyers than usual as many have been putting off the decision to buy perhaps unnerved by the panic stories in the media”

His partner Alan Robinson added “We are not in the property speculation market as we sell homes to families that need a nice place to live. so Any short term dip in prices makes very little difference to our clients as they realise that in the long term buying a home is their best option and they get a roof over their head. Indeed, if we are having a slowdown common sense would suggest now is the best time to buy before the new year stampede”