Housing market is 'firming up'

by Christopher Evans

There is evidence that the housing market is firming up, according to one property investment advisor.

Stuart Law, chief executive of Assetz, noted that the market is seeing signs of increased lending, as shown by figures released by the Council of Mortgage Lenders (CML).

It revealed this week that mortgage lending grew by 15 per cent in June on the month before to an estimated £13.1 billion.

Over the quarter this totalled £35 billion, an increase of 17 per cent on the first three months of 2010.

"It doesn't look like house prices are falling back. The CML's data is indicating that buyers continue to want to buy and we are not seeing those numbers falling away," Mr Law said.

The expert noted that slow month-by-month movements in the past were most likely an 'election wobble' and do not resemble the state of the market now.

This could encourage people to look into DIY house selling as there is increased stock on the market.

Published on: July 22, 2010

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