13 Aug

Buyer numbers rising for the first time in 4 years

Buyer numbers rising for the first time in 4 years

The number of people in the UK who are now looking to get themselves out to estate agents to buy properties is at its best level in four years, an organisation has reported.

The Royal Institute of Chartered Surveyors (Rics) said that this has also helped to speed up the increase in house prices, taking it to its quickest growth at any time since 2006.

It said that the Help to Buy initiative brought in this year had helped to inject confidence among new buyers by allowing them to get a mortgage with just a five per cent deposit - far lower than the 20 to 25 per cent they could have expected a year ago.

In addition to this, the Funding for Lending Scheme has also had a profound impact, with a greater number of buyers able to get mortgages at more affordable levels, with the average loan accounting for 83.6 per cent of home value, as opposed to 81.6 per cent in July 2012.ADNFCR-1222-ID-801624472-ADNFCR

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