Demand for homes for sale 'is increasing'

Posted: 22 Oct 2009 13:35:22 GMT

First-time buyers are returning to the property market and demand for homes is increasing.

>This is according to chief executive of the National Association of Estate Agents (NAEA) Peter Bolton King, who said that "the market is making slow but steady steps to recovery".

Commenting on the Council of Mortgage Lenders' figures for September, he added that although they support the views of the NAEA, for the improvements in the market to continue mortgage providers would need to do more to aid the industry.

Mr Bolton King explained that the NAEA wanted the government to prolong the stamp duty holiday and it has also expressed worries about the proposed changes to the mortgage vetting process.

Earlier this week, the Financial Services Authority has put forward guidelines for stricter supervision on mortgage approvals.

Under the proposals, should they go ahead, homebuyers would have to undergo an examination of their spending before being accepted on a home loan plan.


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