9
Dec
Buyer demand up for first time in two years
The latest Royal Institution of Chartered Surveyors survey has
revealed the first increase in the number of prospective buyers
registering an interest in over two years.
Data for last month has found that the number of surveyors
reporting a rise in prospective buyers was 14 per cent higher than
the number reporting a decrease.
This contrasts with October when the majority seeing a drop was
nine per cent.
Such a trend may have come about as a result of the falls in house
prices during recent months, as well as cuts in interest
rates.
To translate into more house sales, this may require a greater
commitment to mortgage lending from banks and building
societies.
One such pledge was made yesterday by HSBC, which plans to raise
its lending by 20 per cent next year.
Head of mortgages at moneysupermarket.com Louise Cuming said the
move should be seen as "a benchmark for the UK's seven bigger
lenders to follow".
