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The recovery of house prices could be as dramatic as the decline in property values witnessed during the credit crunch, a claim suggests.

According to the National Association of Estate Agents (NAEA), interest rates are likely to further fall during the first quarter of 2009.

Furthermore, the drop in house prices will begin to bottom out, which could make now the right time for Britons looking to sell up to make much-needed home improvements to boost their property's value.

Commenting on the news, chief executive of the NAEA Peter Bolton King says: "Some people are beginning to cotton on to this [property recovery] - which is why our members are starting to see enquiries increase again, as people begin to believe they can find a bargain."

As such, taking out a loan to pay for a new kitchen or making energy efficiency measures such as draught-proofing and insulation could be a wise move for Britons looking for a quick sale.

Indeed, secured loans to cover such measures could be paid out within days, depending on the lender.

Meanwhile, the Royal Institution of Chartered Surveyors recently noted that first-time buyer interest has reached high levels.