The prospects of the UK property market crashing are remote and recent media hype is unfounded.

That is according to Assetz, which said that the market is supported by strong fundamentals.

Recent reports have suggested that the market is set for a major crash but Stuart Law, chief executive of the firm, said that he believes the market is simply flattening after years of price rises.

"Whilst headline annual rates of house price growth are slowing, it is the short term data over the last few months that shows how robust the housing market is proving in 2008," said Mr Law.

"Three monthly average house prices paint a much clearer picture of market performance and reveal that average annual price growth has now flat-lined at around zero per cent, with no significant decline having taken place.

"As I have been stating for some time now, the housing market is very unlikely to crash. The fundamental economics of supply and demand support this," he added.

Mr Law said that he believes house prices will increase by five per cent by the end of the year.