A Cheshire-based estate agent has dismissed fears that the property market is to contract in 2008.

Financial experts have been predicting a downturn in the housing market for some months but recent figures from the Halifax found that prices actually increased in December, with the average cost of buying a home rising by 1.3 per cent from the previous month.

Andrew Williams, director of Williams Estates, told the Mid Cheshire Chronicle that although some sellers may be worried about what the year ahead holds for them, the future looks bright.

"Talk of a winter credit crunch combined with apprehension towards Home Information Packs has made people nervous of putting their house on the market but the public shouldn''t be worried because there is a market out there for them."

"Whilst there is a cost associated with home information packs (Hips) the public should be aware that there are various funding options available for people selling their home if they get the right help and advice from an estate agent," he said.

Some agents are now offering deferred payment options to sellers in a bid to encourage those who unwilling to fork out for a Hip to put their home on the market.