Housing market 'back at peak in 18 months'
www.moneynews.co.uk > Housing market > Housing market 'back at peak in 18 months'
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Money News |
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Housing market 'back at peak in 18 months'
Thu 22nd Oct 2009
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Stuart Law, chief executive of Assetz, based his estimation on property activity over the past six months and said he is one of the few people who is optimistic about what is likely to happen in the future.
He made his comments following the release of September lending figures by the Council of Mortgage Lenders (CML), which showed that gross lending in the third quarter of the year is up 18 per cent compared to the second quarter.
Mr Law added: "So if it carries on at the rate we've been seeing for the last six months then prices will be back to their peak [in] 18 months time."
He observed that the CML statistics are very encouraging and claimed the reason why numbers are not higher is that there are fewer mortgages available which require small deposits.
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