Rics (The Royal Institute of Chartered Surveyors) has poured cold water on the "endless talk of the demise of the property market".
Simon Rubinsohn chief economist at Rics claimed that the British market will remain "resilient" as long as the overall balance of supply and demand is maintained, something that "historically has been the best lead indicator of future developments".
Commenting on various reports which have suggested that the UK housing sector is heading for a crash in the wake of the sub-prime collapse in America.
"We still expect the pace of house price inflation to gradually slacken as the credit crunch restricts the availability of mortgage finance - particularly to 'higher risk' borrowers - and the economy more generally slows" Simon conceded to say.
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