Wimbledon Estate Agents, Morden Estate Agents, Raynes Park Estate Agents, Merton Park Estate Agents, West Wimbledon Estate Agents, Colliers Wood Estate Agents, Award Winning Estate Agents, Professional Quality Estate Agents, Land and New Homes In London and Surrey, Lettings and Management in Wimbledon, Lettings in Morden.
Mortage Approvals Up
Figures released today by the Bank of England bring some much-needed good news to the housing market after mortgage approvals for house purchases were higher than expected last month.
Mortage Approvals Up
According to the Bank, the number of mortgages approved grew to 38,000 in February, up 6,000 compared with January and represented the highest figure since May last year. Many believe the rise is an indication that activity in the housing market may be starting to bottom out. While this is seen as good news, Vicky Redwood at Capital Economics cautions that approvals need to double in order to get to levels that are “no longer consistent with falling house prices“. More good news comes from property analysts, Hometrack, who said homes are selling quicker and buyer interest is on the up. According to the organisation, the number of buyers registering with estate agents rose for the second consecutive month, up by 9%, following February’s rise of 17%. The organisation surveyed nearly 1,800 agents and surveyors across England and Wales and found that an increase in buyers looking for bargains is giving the market a much-needed boost. In addition, Hometrack said the average time a property is on the market fell to 11.3 weeks last month from 12 weeks the previous month.
16-07-2009