Pre credit crunch optimism in housing market restored

Posted: 06 Jan 2010 13:29:59 GMT

The optimism that was seen among home buyers prior to the credit crunch has been restored, one property website states.

Some 81 per cent of respondents in a survey by Zoopla believe that house prices will rise in the next six months.

Nicholas Leeming, commercial director of the site, says: "While the recovery is still in its infancy, optimism is now back to levels not seen since the credit crunch began in 2007."

This is a turnaround from this time last year, he adds, when market confidence was at "rock bottom".

However, the survey also reveals that this confidence does not extend to mortgage funding.

Some three quarters of potential homebuyers state that they have seen no improvement in the number of available mortgages on the market.

According to MortgageForce, more home loan products could become available in the coming year as providers have high lending targets for 2009.

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