UK Housing Market shows further signs of stabilising

UK Housing Market shows further signs of stabilising

UK Property market shows signs of stabilising

This afternoon IrishTimes.com is reporting that the UK housing market showed further signs
of stabilising
during June with a 23 per cent jump in the number of mortgages taken out by people buying a home.

Around 45,000 mortgages were advanced for house purchase during the month, the fifth consecutive monthly … increase and the highest level for a year, the Council of Mortgage Lenders said.

There was also a steep rise in the number of first-time buyers getting on to the property ladder, with 17,200 mortgages taken out by people buying their first home, 26 per cent more than during May.

The RICS survey showed a continuing rise in interest from potential buyers, with new inquiries increasing for the ninth month in a row during July.

There were also further signs that these inquiries are translating into sales, with the average chartered surveyor estate agent selling 15 properties during the three months to the end of July, the fourth consecutive increase and up from 13 during the three months to the end of June.

This increase in property transactions was reflected in figures from the Council of Mortgage Lenders, also released today, which showed a 23 per cent jump in the number of mortgages taken out by people buying a home during June to 45,000 – the highest level for a year.

Read the full article on IrishTimes.com

There is 1 comment for this article
  1. Alexandra at 4:58 pm

    Seeing as Myhomeie is the supposed barometer for the irish property market, when will the Irish market stabilise? As prices here look as though they are still dropping considerably

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