21 Apr

UK property market 'is picking up'

UK property market 'is picking up'

The property market in the UK is picking up, according to one industry practitioner.

Jon Brown, partner relationship manager at iammoving.com, suggested that confidence is returning among consumers.

He made his comments following the release of figures produced by the Council of Mortgage Lenders, which suggested that gross lending in March totalled £11.5 billion.

This was a 24 per cent rise on the £9.3 billion recorded during the previous month, the organisation revealed.

Mr Brown stated: "Fortunately people's faith in borrowing is slowly being restored while at the same time many areas of the UK are reporting an increase in property values or at least a stabilisation of prices."

He added that because the housing market is now seen to be out of its dip, more people are placing their residences on the market.

Also, a rising number of consumers are considering purchasing homes, the expert went on to note.
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