23
Jun
Property buyer applications 'on the up'
There were 40 per cent more new applicants to buy property in May
compared to the corresponding month in 2008, according to Hamptons
International.
Research from the estate agency indicated that there are 9.4
registered buyers for every seller in the UK.
When focusing solely on London, where property is always in demand,
this figure rose above ten.
Overall, this study suggests that the market is shifting to favour
those who are selling homes, reports the Sunday Times.
Last week, a survey published by Sainsbury's Finance stated that
the average amount of money UK consumers spend on repaying
mortgages each year is £6,682 - a sum that is 1.53 per cent
down on the level recorded two years ago.
Indeed, president of the National Association of Estate Agents Gary
Smith recently claimed that low mortgage costs and increasing
levels of confidence in the property market may contribute to the
housing sector leading the UK out of recession.
