The UK housing market remains supported by a number of key fundamentals.

That is according to the National Association of Estate Agents (NAEA), which said that prices will not crash because the market is well supported.

It comes despite recent negative reports on the state of the housing market.

The latest came from the Royal Institution of Chartered Surveyors (Rics), which revealed that 95.1 per cent more of its members reported a fall rather than a rise in house prices in April.

According to the NAEA, these figures are nothing to worry about and the market remains fundamentally strong.

"There is no denying that the credit crunch has affected confidence in the market - especially first time buyers who are finding it hard to find financing to get on the ladder - but it is still important to remember that the underlying factors that support the property market remain: low unemployment, historically low interest rates and a pent-up demand for houses," said Peter Bolton-King, chief executive of the NAEA.

"Therefore, rather than a dramatic fall that some doom and gloom merchants are predicting, it shows we are looking at a return to a more steady market rather than the fantastic price hikes we have seen in the previous ten years," he added.