More signs of a housing market recovery
A local property expert says recent activity in the housing market gives cause for optimism.
- Published in the Courier : 20.04.11
- Published online : 23.04.11 @ 07.23pm
Lindsay Darroch, head of property at Blackadders, said his firm has experienced a sharp increase in the volume of business in recent months but added, "Overall listings in this area and for Scotland as a whole, I understand, are slightly down on last year.
"Whilst I still anticipate an upturn by the summer of this year, the property market still remains very unsettled."
The number of mortgage products available through brokers breached the 10,000 barrier at the start of April for the first time in more than two years, he said.
"This is a very positive move and hopefully shows an increase in the willingness of banks to support the housing market," continued Mr Darroch.
Mortgage approvals also rose, by 4.3%, between February and March.
"This is the third consecutive month of growth as the market recovers from a sluggish Christmas period," he said. "The year-on-year comparison is more positive with the decline slowing to 0.6% compared to March 2010 -- the slowest year-on-year decline since it began in May 2010.
"I am hopeful that this is the start of the spring recovery in the market."
Reports that March also saw a pick-up in the performance of all three of the major commercial property sectors in the UK -- office, shopping centre and retail -- were also encouraging.
"This is hopefully a sign of confidence returning to the property market," said Mr Darroch.
12.34am - 24.04.2011 rick - northwood, middx Report This
And on what figures are these claims of increased business based? Listings, viewings, offers or actual sales? This article is so vague that the claims appear almost meaningless to me.
08.08am - 25.04.2011 T. Butchers - Dundee, uk Report This
Things must have chaged when a slowing decline is taken as a positive!
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