Could mortgages be in more demand as housing market picks up?

11 May 2010

Written by Simon Whittaker.

More chartered surveyors noted an increase in house prices in April than in March, according to the latest UK Housing Market Survey from the Royal Institution of Chartered Surveyors (Rics).

Last month, 17 per cent more respondents to the study saw a rise in house prices than a fall, compared with nine per cent in March.

The surveyors also said there had been an increase in sales and their expectations of sales while the rate of new business has leapt substantially.

London's net balance of recently agreed transactions jumped to 45 per cent in April from one per cent the month before, while the north-west saw an even stronger performance.

Research by the Building Societies Association recently found that over half of chief executive officers for mutual lenders were optimistic about the mortgages market over the next twelve months, partly in expectation of a rise in house prices.

Rics suggested the boom has been triggered by warmer weather and predicted further growth in the post-election period.

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