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Mortgage intermediaries expect positive 2010

Mortgage intermediaries expect positive 2010

Category: Mortgages

Updated: 02/02/2010
First Published: 02/02/2010

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 It is now over 6 months old so the content may be out of date.

Hopes that the housing market will continue its tentative recovery in 2010 have been boosted with news that mortgage intermediaries expect a positive year.

Two thirds (66 per cent) of intermediaries believe that they will see an upturn in business this year, according to research conducted by Platform.

This increasingly positive attitude appears to have been buoyed by a general feeling (74 per cent of respondents) that house prices will record a rise of up to five per cent in 2010.

The same proportion think interest rates will remain relatively stable this year, with the expectation being that they will rise by a maximum of 0.5 per cent to one per cent by the end of 2010.

"The research has shown that intermediaries are confident that the next 12 months will be positive for the market and that the sector is ready to do business," said David Tweedy, director of Platform.

The growing trend of confidence in the property market is reflected by figures from the Land Registry.

Released last week, they show that a small rise in the average house price in December means the annual rate of change is currently positive, having been in negative territory since June 2008.

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