UK property prices are expected to bottom out over the next 12 months ahead of a potential recovery, an expert has suggested.

Peter Bolton King, chief executive of the National Association of Estate Agents, claimed that 2009 would be a "make or break"year for many estate agents.

He suggested that the dramatic fall in prices seen over the past 12 months will begin to stabilise, adding that the subsequent recovery could be swift.

"It is clear that parts of the market are perhaps beginning to bottom out, and it seems possible to me that once the recovery begins, we could see a bounce as pronounced as the fall,"he said.

However, Mr King maintained that any such recovery would depend on lenders making more money available to potential buyers and passing on cuts in interest rates to consumers.

Mr King's comments come after the latest Young Index results revealed that more than a third of property investors listed more stable market values at the top of their wish-list for 2009.ADNFCR-2002-ID-18948103-ADNFCR

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