8 Sep

Brits' confidence in property market 'on the increase'

Brits' confidence in property market 'on the increase'

The amount of confidence Brits have in the UK's property market is rising, new figures show.

According to MoneySupermarket.com, the number of people seeking mortgages is greater than those seeking information on remortgaging their homes.

The finance comparison site's data reveals that the proportion of people logging on and looking for a mortgage to buy a property has risen by one-fifth since January.

It also saw one-third fewer remortgage searches at the end of August, which the site believes indicates a significant change in the priorities of property owners.

Mortgage spokesperson for the firm Hannah-Mercedes Skenfield commented: "Our figures provide fresh evidence that appetite to buy a house is coming back into the market. Perhaps the public is becoming convinced that prices have stabilised."

This data from MoneySupermarket.com correlates with the opinion of Dan Richards, group sales director at fish4, who said this week that homebuyers are beginning to feel more confident about the condition of the housing market.

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