Market strength continues to be debated

Posted: 22 Jan 2009 09:49:47 GMT

An 11 per cent drop in the total amount lent to mortgage customers was recorded by the Council of Mortgage Lenders between November and December last year, recent figures have shown.

Such figures could suggest a significant drop in the confidence of consumers but this is a theory hotly debated by the National Association of Estate Agents (NAEA), which has pointed to a rise in buyer interest during the same period.

"These figures are disappointing but not unexpected," suggested Peter Bolton King, chief executive of the NAEA.

"However, NAEA members reported a slight upturn in activity towards the end of December, with both buyers and sellers showing an increase in interest. Furthermore, early indications are that the market has picked up significantly in January."

A rise in buyer interest could benefit those who need to sell their homes during the current downturn, as it could slow down the fall in house prices.

Selling a property online could also offer homeowners the chance to achieve a higher sale price, as a property can be viewed far more easily than if it is placed only in an estate agents' window.




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