NAEA: Property slide has reached the bottom

Homeowners trying to decide whether to move or improve may be interested in hearing the latest comments from the National Association of Estate Agents (NAEA).

Those needing more space in their residence often face a choice of buying a larger house, or improving their current one with something like a conservatory, kitchen extension or loft conversion.

Commenting on recent Nationwide statistics, NAEA president Gary Smith suggested they appear to show the property market has reached the bottom of its slide.

He stated the organisation hopes a recovery will soon begin, with prices continuing to rise.

"Whilst it is true that conditions in many areas across the country remain tough, we must now concentrate on how the government and major lenders can build on this evidence of new consumer confidence," Mr Smith explained.

He concluded by saying those providing home loans must play a major role in the coming months if the market is to continue its recovery.

Meanwhile, Sainsburys Finance figures show 13 per cent of homeowners expect to carry out structural changes to their property in the next year.