During recent years the housing market has gone from strength to strength. Many consider property the best investment they could make.

However, doubts began creeping in last autumn, with the Northern Rock crisis and "credit crunch". Since then there has been doom and gloom surrounding lending and mortgage rates.

But is the property picture as bad as it is being drawn?

First, when looking at the facts relating to the difficulty in obtaining lending, it is actually encouraging to learn that in the current market it is still only a relatively small amount of borrowers facing issues in obtaining a mortgage, with these tending to be buyers with little or no deposit who want to borrow more than the value of the property and those with poor credit history.

While the loan application procedure is tighter this doesn’t mean a person with a poor credit history alone will be denied a mortgage and this is where it is essential to talk through requirements with a qualified mortgage adviser. Undoubtedly first-time buyers face the greatest challenge but this group are benefiting from several Government incentives designed to get them onto the first rung of the property ladder. They include My Choice Homebuy which can contribute up to 50 per cent of the price of the property.

There are also a range of other options for first-time buyers that fall under the heading Shared Ownership including Key Worker schemes and part-purchasing options. In addition the switched-on agent can become the first-time-buyer champion, offering extra advice and support and incentives with the help of their vendors. First-time buyers with a deposit are in a somewhat healthier position than ever.

Property which is realistically priced is selling and it is helpful to point out to sellers that they will also benefit from lower prices if they are moving up the property ladder.

For sellers who would rather ride out the "tempest", letting their property on a short-term lease is worth considering. A prospective landlord should, however, ensure their letting agent is a member of ARLA, the Association of Residential Letting Agents.

Remember, knowing the full picture on property isn’t as dark as it is portrayed helps.