Housing recovery to be 'long and slow'

Homeowners expecting the economy to bounce back as sharply as it fell may be disappointed, it has been suggested.

Some proprietors may have been hoping a recovered economy would boost residential values, but new minister for housing and planning John Healy predicted it will be a long recovery.

Speaking at the Chartered Institute of Housing Conference and Exhibition, Mr Healy suggested the shape of the recession if graphed out on a timeline would be that of a "Nike swoosh".

The minister said the sharp fall into recession would be followed by a long, steady climb back to normality.

On Monday, the Confederation of British Industry recently suggested the economy was beginning to stabilise, leading some to hope it would begin its ascendancy soon.

However, Mr Healy was keen to use his first first public address since being appointed on June 5th to urge caution.

Property owners who decide to improve rather than move have a range of options at their disposal, including a bespoke glazed lean-to extension.