Buying, selling and current property market assessed

Posted: 22 Jun 2009 11:46:38 GMT

The head of mortgages at independent financial adviser group Bestinvest has had a number of positive things to say about the property industry.

Peter O'Donovan suggested that there are a lot of potential property buyers currently on the market, which could be good news for those people who are selling their homes.

Recent research from financial services providers such as Nationwide Building Society and Halifax shows that house prices appear to be heading in an upward direction, and the Bestinvest representative said this is in encouraging.

"These sort of figures [indicate] that purchases are increasing, people are considering selling and moving on, and the properties will start to come back on the market," he explained.

Council of Mortgage Lenders' figures released earlier this month indicated that gross mortgage lending totalled an estimated £10.3 billion in May, which was 58 per cent down year-on-year.


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