Expert expresses confidence in housing market
The head of mortgages at independent financial adviser group Bestinvest expects that house price falls have reached the bottom.
Peter O'Donovan claimed that there are currently a lot of people looking to buy bricks and mortar, which is one reason for his prediction.
Referring to recent Nationwide Building Society and Halifax surveys, both of which showed property price increases in May, the head of mortgages expressed his confidence in the industry.
He said: "These sort of figures [indicate] that purchases are increasing, people are considering selling and moving on, and the properties will start to come back on the market."
Another way of gauging the strength of the property market is to study the home loan lending figures.
Earlier this month, the Council of Mortgage Lenders indicated that gross mortgage lending totalled around £10.3 billion in May, which was slightly down on a monthly basis and 58 per cent lower than the same month in 2008.
To book your free initial consultation with mortgages for professionals click here.
Peter O'Donovan claimed that there are currently a lot of people looking to buy bricks and mortar, which is one reason for his prediction.
Referring to recent Nationwide Building Society and Halifax surveys, both of which showed property price increases in May, the head of mortgages expressed his confidence in the industry.
He said: "These sort of figures [indicate] that purchases are increasing, people are considering selling and moving on, and the properties will start to come back on the market."
Another way of gauging the strength of the property market is to study the home loan lending figures.
Earlier this month, the Council of Mortgage Lenders indicated that gross mortgage lending totalled around £10.3 billion in May, which was slightly down on a monthly basis and 58 per cent lower than the same month in 2008.
To book your free initial consultation with mortgages for professionals click here.
