Property market confidence up - buy to let mortgages

19 May 2009

Confidence is returning to the property market, according to the National Association of Estate Agents (NAEA) chief executive Peter Bolton King.

He said that despite low transaction levels in recent months, there has always been a demand for bricks and mortar - just a lack of confidence.

Mr Bolton King's comments come after the NAEA revealed the average number of sales made by estate agents in the UK reached ten in April - up two from the previous month.

And even though properties bought with buy to let mortgages were not highlighted by the chief, he said the housing market industry as a whole was showing positive signs.

"Six months ago people were talking about how British people's attitude to owning property had changed in the recession," he said. "The NAEA always said that this was nonsense."

Nationwide Building Society recently indicated that the average cost of a UK property in April was £151,861.

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