Property price recovery 'to be sustained'
The National Association of Estate Agents (NAEA) has said that it hopes the gradual recovery in property prices witnessed in recent times will be sustained.
A statement from the organisation's president Gary Smith indicated that the latest statistics show the cost of housing may be heading in an upward direction from now on.
He was referring to yesterday's announcement from Nationwide Building Society that the average value of bricks and mortar in the UK rose 1.6 per cent between July and August.
With prices on the up, some young professionals may find that property to rent in London is a more affordable living arrangement for them.
Mr Smith said that mortgage lenders have "a huge role to play" in the next few month to help the housing market.
"The NAEA intends to monitor the situation very closely to ensure they play it," he added.
Written by Ben Carter
Published 28th August, 2009
© 2009 Estates IT Limited
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