Pub property prices stabilised in 2010, but the market remains fragile, according to leading property agent Christie & Co. The agent’s head of pubs, Neil Morgan, predicted - in the firm’s newly published Business Outlook report - that 4,000 low-end tenanted pubs would close over the next three to four years. The report, which uses price information from pub transactions brokered by the firm, says pub property prices dropped by just 0.9% in 2010. This compares to a 20.1% decline in 2009. The firm put this down to buyers returning to the market to make selective acquisitions, the tentative economic recovery and an increase in transactions. Over the year, Christie & Co saw a steady increase of 41% in pub sales, compared to 2009. Freeholds pubs run as managed sites were the most popular to buy among existing operators, private equity groups and “cash-rich individuals looking to gain a foothold” in 2010.