Home buyer confidence grows - Mortgages - News - Moneyfacts


Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Home buyer confidence grows

Home buyer confidence grows

Category: Mortgages

Updated: 17/08/2009
First Published: 17/08/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Confidence in the housing market continues to grow, despite the ongoing lack of mortgage finance available to buyers, new research has revealed.

Record traffic was reported across the Rightmove property website during August, while sentiment also continued to improve. Three quarters of prospective movers said they did not expect house prices to fall in the coming year.

Meanwhile, sellers were found to be setting more realistic prices for their properties, with average asking prices falling by 2.2% during the month, a drop of more than £5,100.

The adjustment is all the more surprising given the heightened interest and that the number of homes coming on to the market remains low.

The website said tight mortgage lending criteria had continued to restrict transactions and seen the number of new sellers in August drop 48% on pre-credit crunch numbers.

"After several months of activity and prices revving upwards from last winter's low point, both will start to hit the limiter without more mortgage finance," said Miles Shipside, the website's commercial director.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.

Homeowners underestimate remortgaging savings

Remortgaging has been enjoying a surge in popularity in recent months, and considering how much you could save, it’s a no-brainer! Unfortunately, many fail to realise the extent of potential savings, which could mean too few make the switch.