23 Jul

Housing market 'set to improve'

Housing market 'set to improve'

Estate agents will be happy to hear that the housing market is on its way up, according to one expert.

The chief executive of property investment advisers Stuart Law Assetz has said that the property market is "firming up".

He suggested that there has been an increase in mortgage lending over the last month, which will encourage a rise in the number of people being able to afford to buy houses for sale in the UK.

Mr Law made his comments in response to research published by the Council of Mortgage Lenders, which showed that there was a 15 per cent increase in the amount of money lent to prospective homebuyers in June at £13.1 billion.

It also revealed that this was a seven per cent increase from the amount borrowed in June 2009 at £12.2 billion.

Mr Law said: "The CML's data is indicating that buyers continue to want to buy and we are not seeing those numbers falling away."

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