The property market is levelling out in some areas but house prices are unlikely to fall, the National Association of Estate Agents (NAEA) has said.

Chief executive Peter Bolton King said that the number of people moving house has slowed, as people are choosing to stay in their homes for longer.

"At the moment, the market is still proving quite resilient, even with the latest interest rate rises, although we are definitely seeing signs of things slowing up and perhaps prices now beginning to level out in some parts of the country," he said.

"We personally don't think house prices are going to drop, we just think they're going to level out," he said.

Mr Bolton King also urged would-be buy-to-let investors to study the area very carefully before purchasing a property, as he said that many people wrongly assume they will be able to rent out their property for 52 weeks a year and achieve top rental income.

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Author:  Joanne McCabe

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