Buyer optimism 'has returned to property market'

24 December 2009

Written by David Whittaker

Buy to let investors may consider purchases in the east Midlands, after it was announced that buyer optimism has returned to the market.

The Nottingham building society yesterday (December 23rd) revealed a 300 per cent year-on-year growth in completed sales.

Graham Lang, operations manager of the organisation, said: "The second half of the year has seen a welcome resurgence in the property market … We have seen seven months of strong growth, which at the present time shows no signs of cooling off."

An increase of 28.33 per cent growth on sales between October and November was also noted by the building society.

Strong sales have been reported in areas such as Nottinghamshire, Lincolnshire and Derbyshire, Mr Lang explained.

First-time buyers have been a driving force behind the resurgence, although high deposit requirements of approximately £13,000 mean that not all of them are yet in a position to purchase, he added.

The Nottingham's findings follow data from the British Bankers' Association, published on December 23rd, which revealed that mortgage lending had leapt to a two-year high in November.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.