"The property market has come to a near standstill with the supply of homes for sale the lowest for 10 years," research by The Daily Telegraph shows.

"Experts yesterday warned that the market was 'gridlocked'. First-time buyers, families trying to move up the ladder and even older owners wanting to 'downsize' are all effectively trapped because demand for homes is now far above supply.

"Last month [February 2007] there were just 108,000 homes for sale in London compared with 225,000 in 2003, according to figures based on Royal Institution of Chartered Surveyors data.

HOUSE prices are rising at their fastest for nearly four years with the property market showing no signs of running out of steam.

Last night experts predicted that this year the value of homes will increase by an average £1,000 a month - or more than £30 a day.

The Centre for Economics and Business Research said that, despite three interest rate rises, the property boom will continue in 2007 - and for the next three years.

Read the full report at The Daily Express

2007 promises to be an exciting year for ALC Property, and we hope you'll seize the opportunity to join us in our exciting new developments. In Birmingham, we will be offering 6 luxurious new townhouses and 2 sumptuous flats in the Handsworth area. Our West Bromwich presence expands with the summer completion of a lovely 2 bedroom in Wesley Gardens, while in Coventry we will be presenting one of our most innovative projects yet, a 2 bedroom in the spectacular new Axis at Dominion development.

The average house price in England will rise by more than 50% to top £300,000 within six years, according to econometric forecasts by the National Housing Federation.

The full story at the guardian online