18 May

Increased interest shown in property purchasing

Increased interest shown in property purchasing

An increasing number of people are interested in acquiring property at the moment, it has been suggested.

Property consultancy Ducalian has "never been busier as an investment firm", according to sales and marketing manager at the company Timothy Lambert.

His comments come after the Council of Mortgage Lenders reported this month that 31,000 home loans were taken out in March 2009 - an increase of 29 per cent on February.

"Combined with lending returning to the market, there is increased interest in acquiring property both from a personal and investment perspective," Mr Lambert explained.

The bottom of the residential market, in reference to prices, is "well and truly in sight", he added.

However, the property expert stated that the average loan-to-value being borrowed for mortgages "definitely" needs to increase from its current level of 75 per cent if the property market is to show overall improvement.
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