14 Feb

Gloomy outlook 'is not the truth'

Gloomy outlook 'is not the truth'

Many prospective homeowners are still looking for deals on the internet, despite claims that confidence in the market is low, HotProperty.co.uk has said.

The company claimed that at a record number of people went in search of properties during January, as 1,865,155 consumers visited its site.

Shawn Luetchens, managing director at the outfit, argued that many recent gloomy reports are not a true reflection of the actions of consumers.

"January was the highest traffic we have ever experienced, showing that buyers are regaining confidence and are actively searching for properties," he commented.

He added that this may be a good period to purchase for first-time buyers, who wish to undertake a "long-term investment".

A report from the same organisation also suggested that 72 per cent of estate agents are now more confident about the industry than they were in the last month of 2007.

The governor at the Bank of England Mervyn King recently claimed that property prices may fall this year as overall spending by individuals lessens.ADNFCR-1222-ID-18468028-ADNFCR

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