House market could bounce back meaning conservatory owners could cash-in

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The National Association of Estate Agents (Naea) has predicted that 2009 will see the housing market bottom out and even bounce back.

If this is the case it could present an argument for home improvement in preparation for a return to favourable trading conditions.

While some areas have seen a fall of 20 per cent in house prices, Naea chief executive Peter Bolton King predicts prices could bounce back to almost the same as they were before.

"We havent seen that kind of fall, in such a short period of time, ever before," he said.

"However it is also clear that parts of the market are perhaps beginning to bottom out, and it seems possible to me that once the recovery begins we could see a bounce as pronounced as the fall.

"Some people are beginning to cotton on to this – which is why our members are starting to see inquiries increase again, as people begin to believe they can find a bargain."

Homeowners looking to recoup the full value of their home in a sale may even consider adding value to it by building a conservatory.

Mr Bolton King did warn that much would depend on how easy the government and lenders made things for new buyers in 2009."ADNFCR-1495-ID-18948967-ADNFCR"

 

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