Home buyers 'are right to be confident'

Date:Thursday 3rd September 2009
Author: Max Freedman

Home buyers are right to be confident about the current state of the property market, according to an industry insider.

Dan Richards, group sales director at fish4, pointed to the number of mortgages being approved and the prices that houses are being sold for as signs of recovery.

He commented that mortgage lenders and the Bank of England have suggested that there improvements in the industry, but he noted that it is worth learning a few lessons from the past 18 months.

"Search carefully, get a pre-approved mortgage and, most importantly of all, make sure you don't overstretch yourself," he said.

Mr Richards claimed that we should be "buoyed" by improvements as the crash in the property market was the first sign that a recession was on its way.

He made his comments following the release of figures by FindaProperty.com, which showed that 69 per cent of buyers believe now to be a good time to get a mortgage deal.