29 Jun

High-end property market 'looking up'

High-end property market 'looking up'

The state of the high-end property market is improving in the UK, it has been suggested.

According to Hirch Way & Ambler, the housing sector is "firming up" and in some cases there are shortages of some of the more top-of-the-range stock.

This is the case to such a degree, that the company claims it has four applicants all wishing to purchase a property it has priced at £3.45 million.

Jeremy Way, director at Hirch Way & Ambler, believes that it is these high-end houses, "not tacky little hutches of flats with inadequate amenities", that people are interested in.

He also thinks that people will have no trouble getting mortgages over £1 million because "the lender is keen for the business" if the percentage loan to deposit value makes sense.

The National Association of Estate Agents recently reported that there are now four house hunters for every available property in the UK.

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