House prices "to level out"

House prices will level out over the course of the next few years as the industry finally cools from the period of rapid growth currently being experienced, it has been advised.

Earlier today the Council of Mortgage Lenders (CML) predicted that house price growth will slow to two or three per cent next year, but the National Association of Estate Agents (NAEA) has said that the market will experience an easing rather than a crash.

Even this assessment comes across a backdrop in which property investment has outperformed its counterparts, the NAEA noted.

"We personally don't think house prices are going to drop, we just think they're going to level out," commented NAEA chief executive Peter Bolton King.

"Despite what all the doom and gloom versions say, if you plot a graph over the last fifty years of investing £1,000, and you say what would've happened if I'd invested that in the stock market, or in gold, or in property – buy to let or whatever – property has still come out way on top," Mr King added.


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