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03/04/2009
Property market 'showing improvement' |
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There are some signs of the start of a possible recovery in the property market, the centre for economics and business research (CEBR) has said.
CEBR senior economist Charles Davis stated: "There are tentative signs [of improvement] and that also comes at a time when we have seen some pick up in interest and enquiries in the housing market."
He made the comments in response to recent news from the Bank of England that mortgages rose 19 per cent.
However, he stated, the "fundamentals" in the economy may limit the rate of recovery, pointing to high unemployment and low income growth as such factors.
Those keen on acquiring property may wish to take legal advice on the issues first.
Another positive sign about the property market came when the National Association of Estate Agents recently reported a rise in sales per agent in February.
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