16
Apr
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.