'Long way to go' to housing recovery
While the increase in loans being handed out for house purchases is encouraging news, one sector commentator has asserted that there is still some distance to go before the market makes a complete recovery.
According to the Council of Mortgage Lenders the number of loans for house purchases in the UK has reached their highest level for nearly two years.
Indeed, the figures show that the number of loans for house purchase in the UK reached 55,000 in October, its highest level since December 2007.
However, Simon Preston, chairman of Iammoving.com, said there is a "long way to go" before Britons begin to find it easier to make decisions on whether or not to move.
"The anxiety that people have in the market at the moment is because [they wonder if] the improvement in the number of transactions and the firming up of prices in the residential sector [is] going to get sustained throughout 2010," he added.
Such comments may prompt people to consider flats to rent in Notting Hill or another part of London while they decide whether the time is right for them to buy.
Written by Andy Britten
Published 11th December, 2009
© 2009 Estates IT Limited
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