The plans announced on Monday to boost the property market have been welcomed, but some experts are concerned that they won't have a significant impact for quite some time. The measures included a brand-new £400 million fund to boost house building, and builders will be able to obtain grants to develop land currently considered economically unviable. However this £400 million fund is expected to provide funding for just 16,000 new homes, when estimates put the need for new houses as being anywhere between 100,000 and 500,000. First-time buyers will also be able to borrow up to 95% of a property's value, news which has been welcomed by the RICS as it shows the housing market is at the top of the agenda, but they did have a few words of caution.

They have pointed out that if care isn't taken the new build indemnity scheme could distort the market and could reduce demand for second-hand property, putting homeowners with little equity at a disadvantage. The concern is that the funding could create a niche market and may not solve the wider problem of lack of funding throughout the property market. It was also announced that there will be an independent review of the private rental sector, but it is difficult to see what effect this will have as there have already been a considerable number of reviews.

Some experts also believe property prices have further to fall, and these types of measures cannot boost the housing market significantly when prices are too high in comparison with wages. Latest data from Rightmove shows UK property prices fell by 3.1% last month which is the largest monthly fall since December 2007, and many buyers and sellers are putting off moving. Although it's a great time to buy for investors or first-time buyers it could be a problem finding the right property from the current limited supply.