2 Oct

The property market "has picked up"

The property market "has picked up"

The property market appears to be returning to form, as many independent estate agents may already be aware.

This is according to Robert Sinclair, the director of the Association of Mortgage Intermediaries, which is a not-for-profit organisation that functions as a mortgage intermediary.

Mr Sinclair said that there are currently more transactions being completed in the industry and that the market appears to have "picked up".

His comments follow the publication of statistics from the Bank of England, which revealed that the number of loan approvals for house purchase in August was comparable with the figure for July and above the average for the previous six months.

"There is more volume being driven through the purchase market than the remortgage market," stated Mr Sinclair.

This news comes after the Council of Mortgage Lenders recently reported that lending for house purchase showed its first material annual growth since early 2007 in July.

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