Could mortgage demand rise as the housing market recovers?

12 May 2010

Written by David Whittaker.

A report from the National Association of Estate Agents (NAEA) today (May 12th) posted an increase in the number of buyers and sellers on the property market, which could suggest more people may be seeking a mortgage.

April saw a post-budget boom in the housing market with a rise in registered house hunters from an average of 274 per estate agent in March to 277 in April, according to the survey.

Estate agents reported around 62 registered sellers on their books last month, extending March's gain to 60, which was already the highest count in six months.

First-time buyers accounted for around 21 per cent of sales, the total number of which matched the previous month's figure of eight.
Looking to the future, Gary Smith, president of NAEA, said: "All of the trends reported by our members point to reasonably sunny prospects for the summer housing market."
Today's data supports research released by the Royal Institution of Chartered Surveyors yesterday, which posted 17 per cent more surveyors noting higher property values than those seeing lower property values in April, compared with nine per cent in March.

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