 Experts Claim UK Property Market is Stabilising
A new study claims the property market is stabilising, however consumers remain cautious - reinforcing the current problems with the property market.According to the National Association of Estate Agents (NAEA) the UK property market is finally stabilising, with an increase of completed sales transactions occurring and the number of viewings before a sale secured.
However consumer confidence is heavily dented. Chris Brown, President of the NAEA, comments:
“Supply is good but buyers are being cautious. It is apparent from the survey results that some people are adopting a ‘wait and see attitude', watching the market, before making any decisions.”
Agents have also commented that sales have fallen through as a result of some people getting cold feet or finding a mortgage unattainable under tighter lending rules.
“However, what people need to remember is that the market is stable and we are not seeing massive price drops,” adds Brown.
Economic factors which have previously made the UK property market one of envy, still exists says Brown - these include high employment, low interest rates and regular sales.
“Moreover, people need places to live and property purchase remains a good long term investment,” says Brown. | 
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