The fears in the High street regarding the crash in the UK housing market seems to be out of place, as the latest reports suggest a stabilised and improved trade in the sector.

Experts believe that since this has come at a time when the interest rates have peaked, a future crash is totally out of the question. They also conceded that the growth is slow as compared to 2004, and said this is expected to fall more.

This is all believed to be in sharp contrast to the Royal Institute of Chartered Surveyors report that gave negative data and indicated a sharp correction in the data. A 3 pc growth has been registered in the month of may, which is seven pc less than May 2004, but economists say it is unfair to go for a year-on-year comparison, as trends change.

Experts who lauded the Bank Of England proposal to keep the base rates unchanged, said that net mortgage lending in May rose by £4.3 billion. 

They opined that the imminent crash predicted by many doom masters may not happen at all, and people who intend to buy or sell property, should be positive at all times.

The experts are watching how well the economy and employment holds up over the coming months, and most of them did not forget to leave a note of caution for the property market in case there is a drop in the wider economy.