13 Mar

Firm sees improvement in housing market

Firm sees improvement in housing market

A building firm has said it has noted signs of an improvement in the housing market as it released its annual results.

Miller Group said that it has observed "encouraging" signals, with reservations "significantly ahead" of last year's levels.

Commenting on the development, chief executive Keith Miller remarked: "Price levels have come down to a level that makes housing more affordable ... the mortgage market is also starting to move a little bit."

Such trends could provide more reason for first-time buyers to be cheerful, with 2009 possibly offering better prospects for them than 2008.

The situation may also spell better news for the company, which revealed a pre-tax loss of £170 million last year, during which time it laid off 30 per cent of its workforce.

Recently Timothy Lambert of property consultancy Ducalian suggested that due to the low prices and interest rates now is the best time to buy property since the early 1990s.

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