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Monday, 01 September 2014

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More mortgages available

The housing market is expected to see a stronger end to the year thanks to the prospect of greater mortgage availability on the back of recent Government initiatives, a survey of estate agents revealed this week.

Chartered surveyors’ expectations for future sales reached their highest level in September for more than two years, the RICS UK housing market survey said, as a net balance of 26 per cent more respondents predicted sales to grow in the last quarter of the year.

This cautious optimism was also reflected in surveyors’ price predictions, with nine per cent more respondents expecting prices to fall over the coming three months. While still in negative territory, this is the most positive reading since the time of the expiry of March’s stamp duty holiday, RICS said.

Last month, prices in the UK housing market continued to fall, albeit at a slower pace than in previous months. Demand from potential buyers remained stable in most parts of the country with four per cent more surveyors across the UK seeing increases in new buyer enquiries.

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