28 Jan

Confidence in economy 'will boost property market'

Confidence in economy 'will boost property market'

An increased sense of confidence about Britain's economy among consumers and businesses will help the housing market grow, it has been claimed.

"As our economy is repaired and confidence in lending in the UK increases, the demand for property will again grow," Jon Brown, partner relationship manager at iammoving.com stated.

He explained that the growth in confidence among consumers and financial institutions is reflected in the rise in the number of mortgage approvals experienced during the final quarter of 2009.

However, Mr Brown remained cautious, noting that worries over job security and the fragility of the economy are likely to prevent substantial gains in terms of property prices.

Research released by Rightmove on January 18th found that asking prices for UK properties rose by 0.4 per cent in January 2010, compared with the previous month.

The organisation also predicted that there will be no change in British house prices during 2010.ADNFCR-1222-ID-19584571-ADNFCR

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