Property market 'recovering'

The worst of the property market crisis appears to have come to an end, an expert has suggested.

Malcolm Harris, an independent property specialist, noted that reports on the housing market in the last few months have been "generally positive".

He added that landlords are witnessing improvements in the rental market and it appears that the property sector is "bottoming out".

"Having said that, London and the south-east have got a lot more to pick up than the rest of the country and there will still be a lot of investment landlords who bought into the peak developments who will not be getting a return," the property expert suggested.

"You can almost say anything you like about the property market at the moment and you've got a chance of being right. Anyone who had a crystal ball would be making a fortune at the moment."

The comments come in response to a recent report from the Bank of England, suggesting that activity in the housing market is picking up and property business conditions are improving.

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