The Co-operative Bank Mortgages says optimism is returning

Date:Thursday 27th August 2009
Author: Susanna Kavka

The Co-operative Bank Mortgages claims that optimism is coming back to the UK housing market.

When it asked people about the state of the industry for a recent survey, 54 per cent said they were becoming more optimistic about the property market.

John Hughes, director of retail banking for the Co-operative Bank, commented that that there is still some way to go before a full recovery, but that the research was encouraging.

He said: "With much speculation about green shoots of recovery in the housing market, the findings do indicate that consumer optimism is starting to return."

The survey also found that 35 per cent of people were currently not prepared to drop the asking price of their house in order to sell, while 12 per cent would be willing to meet a seller's full quoted price.

Lower asking prices would encourage first-time buyers onto the property ladder, a spokesperson for the Council of Mortgage Lenders said recently, but the size of deposits being requested could stand in the way of them getting a mortgage.