Investing in property can still be worthwhile despite recent economic turmoil, it has been suggested.

Pierre Williams, head of communications for property investment firm Inside Track, said that purchasing property is still "a very viable option" for those looking for a medium to long-term investment opportunity and said that negative press about the market is "not borne out by reality".

"The key to the UK property market is the fact that we''ve got a growing, worsening undersupply situation [while] the overall economy remains buoyant. Those two factors are going to underpin prices.

"Just because [prices have] not rocketed at the same pace as they have over the previous few years doesn''t mean that it''s not a good investment. On the contrary, it''s quite a relief that the massive hikes of recent years have calmed down," he said, adding that the market had calmed "to a more sustainable, steady rate".

Stuart Law, chief executive of property investment specialists Assetz, is also confident, claiming that "there is a zero chance of a house price crash at present".

"There are great foundations in place for UK residential property to prove a rock solid investment over the next ten years."