25 Aug

Positive property news 'will provide confidence'

Positive property news 'will provide confidence'

More positive property news would give people confidence in the housing market, according to one expert.

Catherine Hearnden, director of MyMortgageDirect, which specialises in finding remortgages, mortgages and insurance products, said that if more positive news was reported in the sector, more people would take heart from that and take their plans off hold.

Her comments follow remarks from the British Bankers' Association, which said that figures from July show an increase in the number of mortgage approvals and the amount of new lending.

"People are feeling a little bit more confident about jobs in some areas," stated Ms Hearnden, saying that people are thinking: "Well, maybe if jobs are picking up a little bit, we'll take all our plans off hold and get moving."

The news comes after the Rightmove House Price Index revealed that July was a record traffic month, as 'marginal' buyers searched hard for property and the 'credit-worthy' searched online for quality homes.

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