13-05-2008
Estate agents claim housing market stability
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The UK's National Association of Estate Agents (NAEA) has noted that the country's housing market is continuing to show stability.
According to comments made by Peter Bolton King, chief executive of the NAEA, while it is certain that confidence in the housing market has been affected by the crunch on credit, current house price falls are both "patchy" and "modest".
"It is still important to remember that the underlying factors that support the property market remain: low unemployment, historically low interest rates and a pent-up demand for houses," said Mr Bolton King.
Moreover, Mr Bolton King confirmed his belief that current data highlights that the country's property prices will steady rather than fall significantly.
Mr Bolton King's comments follow the release of data by the Royal Institution of Chartered Surveyors, an organisation with a history going back to 1868.
The NAEA is the residential division of the National Federation of Property Professionals.