20 Jan

UK housing market 'helped by low interest rates'

UK housing market 'helped by low interest rates'

Low interest rates gave more of a boost to the UK housing market last year than any other factor, it has been claimed.

David Tropp of Orion Asset Services wrote for Bridging & Commercial that the sector did not experience as many problems as most had been expecting during 2009 because of the positive impact lower rates had.

"This made the difference between people either losing or staying in their homes," he remarked. "It bought people time to either sell their property or adjust their lifestyle sufficiently enough to ease any financial pressures."

Furthermore, Mr Tropp said he believes the same results will be seen throughout the next 12 months.

Other factors that he suggested have been affecting the housing market for the better are the bank bailout, more prudent lending and a lower than anticipated rise in unemployment.

Mr Tropp's remarks follow those of Rightmove earlier this week, which indicated that the factors that helped market buoyancy in 2009 are continuing.ADNFCR-1222-ID-19567635-ADNFCR

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