consumer confidence index has just been released and
confirms that whilst a consistent percentage of people
feel it is a good time to buy, few people feel that
this is a good time to sell a property. However, a growing
number of people consider that next year would be the
right time to sell, increasing the available stock.
confirmed that the number of Buy to Let mortgages available
rose from 179 in September to 239 in October. Only 4
of these deals are currently available with a 20% deposit.
CML reduced it's forecast for repossessions in 2009
to a figure of 48,000 from their original estimate of
75,000. The number of mortgages in arrears (more than
2.5% of the mortgage balance) fell to 1.77% and is forecast
to rise only marginally into 2010. They forecast the
number of housing transactions at 810,000 this year,
rising to 850,000 next year. There is also a cautionary
warning about the effect of the removal of exemption
of stamp duty below £175,000 at the end of the
RICS monthly housing market survey confirmed a stable
market with agreed sales per surveyor rising marginally
from 18.5 to 19 over a 3 month period.
BBA monthly update continues to demonstrate that the
house purchase market is leading the way in sales.
does this mean fpr 2010 - Well it seems that the troubled
market isn't completely behind us yet, but a slow and
steady recovery is underway and as confidence returns
to the market the banks will start releasing more funds
and more products - meaning 2010 should see positive
news and steady growth on all sides.