Rics responds to BBA mortgage data
It is "conceivable" that there will be a move back to a situation where there are 40,000 mortgage approvals a month by the end of the year, according to the Royal Institution of Chartered Surveyors (Rics).
Responding to the latest British Bankers Association (BBA) figures, which showed that activity in the housing market picked up in May, Rics said that this is still down on the average monthly rates of 2005, 2006 and 2007 - but encouraging.
The BBA's data indicated that the number of mortgages approved for house purchases climbed to its best level since April 2008 last month.
A statement from Rics read: "This pick-up in demand is broadly consistent with the rise in buyers enquiries signalled in the monthly Rics housing market survey."
It added that "the continuing strength of the latter series" hints that property transactions may increase "a little further" in the forthcoming months.
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Responding to the latest British Bankers Association (BBA) figures, which showed that activity in the housing market picked up in May, Rics said that this is still down on the average monthly rates of 2005, 2006 and 2007 - but encouraging.
The BBA's data indicated that the number of mortgages approved for house purchases climbed to its best level since April 2008 last month.
A statement from Rics read: "This pick-up in demand is broadly consistent with the rise in buyers enquiries signalled in the monthly Rics housing market survey."
It added that "the continuing strength of the latter series" hints that property transactions may increase "a little further" in the forthcoming months.
To book your free initial consultation with mortgages for professionals click here.
