Quintain wary but Colliers eyes recovery from property slump

London property firms Quintain Estates & Development and Colliers CRE today painted a mixed picture of the market as it recovers from recession.

Quintain's chief executive, Adrian Wyatt, said: "Prices in selected sectors of the property market are hardening. However, conditions in the mainstream market remain uncertain."

He outlined plans to focus on "resilient income streams" such as healthcare and student accommodation, which are underpinned by an ageing population and lack of student housing.

Colliers said fourth-quarter revenues were the strongest of last year. "We are expecting this momentum to continue into 2010," said the firm's chairman, Sir John Ritblat.

He said losses hit £10 million last year, with £8 million coming in the first half: "2009 was certainly a challenging year. However, we ended it with a strengthened balance sheet and encouraging prospects for 2010."