I think -in part- Spain’s recovery is dependant on the ability for the UK to recover. For the reasons goodstitch mentions above.
However, there is a growing number of UK citizens looking to move abroad as soon as they can sell their properties. Mostly due to their dissatifaction with the government and UK economy and it’s prospects. On a couple of recent trips to the UK, many of my family and friends asked about living in Spain for the first time in the 9 years I have been living here. These were people who had not even considered it during the boom years and I would never have had them down to leave their home towns.
So, it remains to be seen whether they do take the plunge if/when they sell their UK properties, but the key factor will remain, what are they giving up? and at present, it won’t be very much.