16 Apr

Association upbeat over market figures

Association upbeat over market figures

Regional variations in house prices are giving the impression prices are falling across the country, an expert warned.

Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA), said reports on falls in value had to be kept "in perspective".

The picture was regionalised and he pointed to the recent findings of the Royal Institution of Chartered Surveyors (RICS), which stated almost a quarter of estate agents had reported a rise in properties in their areas.

"The market is battling with the credit crunch, which has undoubtedly had an effect on confidence," he said.

"We need to tread very, very carefully before making long-term judgements on the market at this current, unsettled, time," he added.

RICS spokesmen Jeremy Leaf said sentiment is "very" low and the property slowdown was directly linked to the lack of available finance.

The organisation's house price balance dropped for the eighth month in a row, it announced earlier this month.ADNFCR-1222-ID-18554927-ADNFCR

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