2 Sep

Homebuyers 'should be more confident about property market'

Homebuyers 'should be more confident about property market'

Homebuyers looking for a house for sale in the UK have been told to be more confident about the property market.

According to Catherine Hearnden, director at MyMortgageDirect, the residential real estate industry in Britain is doing better than is perceived in the media.

She said: "The market has been talked down rather it actually being down."

Her comments are compounded by recent figures from the Bank of England which revealed that total net lending to individuals rose in July by £0.3 billion.

The Council of Mortgage Lenders also reported that the amount borrowed by homebuyers in July 2010 increased by five per cent from the previous month - going from £12.9 billion in June to £13.6 billion in July.

Ms Hearnden added that people should remain more confident about the market as negative predictions can be a self-fulfilling prophecy.

She stated: "They are going to believe what the media are telling them."

The property market will pick up, the housing expert said, "if we can just get a little spark of confidence back".ADNFCR-1222-ID-800049970-ADNFCR

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