Numbers of site visitors and reservations in the early part of the year are encouraging, according to the Housing Market Report Expert Panel of leading economists, but the year ahead will be flat at best. There are, says the Panel, some signs for optimism but these are balanced by downside risks. <br> <br> The Panel - which meets twice a year to look at the short, medium and longer term prospects for the market - comprises five leading economists from government, RICS, RBS, HBF and CML. They acknowledge that there is upwards pressure on interest rates and that when rates rise “the mood music will change and house prices may start to fall slightly”. <br> <br> For the full report on the expert panel and future panel reports, subscribe to Housing Market Report at www.house-builder.co.uk<br> <br>