NAEA predicts sustained growth of house prices
28th August 2009
The National Association of Estate Agents (NAEA) made the observation following the latest Nationwide figures showing a rise in values.
NAEA president Gary Smith explained that growth has so far been gradual in 2009, but the indication is that the market has bottomed out and the recovery will be sustained.
He predicted that more families will be seeking to move as prices have become more realistic and interest rates are at historically low levels.
"To ensure these aspirations are realised lenders have a huge role to play in the coming months and the NAEA intends to monitor the situation very closely to ensure they play it," Mr Smith added.
The Nationwide figures revealed that prices have increased by 1.6 per cent in August, marking the fourth consecutive month of growth.
