Housing market 'continuing to firm up'

Date:Monday 23rd August 2010
Author: Max Freedman

The housing market is continuing to improve, especially since the General Election, according to one expert.

Over the past year the housing industry has witnessed an improvement in the lending market as more banks are prepared to offer loans, Stuart Law, chief executive officer of Assetz said.

He noted that while the biggest changes were recorded on homebuyer mortgages, buy-to-let products were also noting some benefits, with loan-to-values also continuing to improve for those trying to buy their own home.

Commenting on the results recorded by the Council of Mortgage Lenders (CML) that there was five per cent increase on the total sum of loans handed out between June and July this year, Mr Law saw the increase as "substantial" and noted it as the first full set of data to be issued since the election.

"What we are seeing is a continued [and] moderate firming up in the market," the head of the property investment company added.