House prices will not recover for years

Homeowners considering whether to move or improve their existing property with a conservatory or pool house may be interested in the latest statement from the National Association of Estate Agents (NAEA).

The body predicted the average house price is unlikely to return to pre-crash levels until at least 2015, following the troubles the market has faced over the past few years.

NAEA spokesman Trevor Kent commented on PricewaterhouseCoopers prediction that there is a 30 per cent chance values will not return to 2008 levels for more than a decade.

He said it was "difficult to disagree" with such a respected body, although he hoped the rise would be quicker.

"I would accept that the likely pace of recovery is going to be very gradual," Mr Kent stated. "I dont think we have any further to fall now … but there will be the occasional small percentage correction each month."

The move could encourage some to consider investing in their property so they can enjoy it fully until a fair price can be had.