Property market predicted to slow down

A slowdown has been predicted in the housing market by one property expert today.

The director of a London estate agents called Atkinson McLoed has said that the market hasn''t been healthy for a while and that the interest rate may slow it down further.

This comes as Leaders, a letting agent, said that the recent merger between the Association of Residential Letting Agents and the National Association of Estate Agents into the National Federation of Property Professional may have negative consequences for the property industry.

Dan McLoed, director of lettings agent Atkinson McLoed, said: "I think prices are going to start to slow down because in the first three weeks of this year we instructed on as much property as we had done in the previous two months."

He says it isn''t healthy because as soon as stock comes on the market, it has been snapped up straight away which means little growth apart from price growth.


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