June 2, 2009

Mortgages approvals increase

The best indicator on the state of the property market is the amount of mortgages approved by lenders, this not only shows the amount of properties being sold, but also how much for.

In April there were around twenty seven thousand mortgages issued by lenders, that is an increase of almost four per cent on the previous month.

However, although this figure shows that there are people in the market who are buying property, when the figure is compared to the same month in 2007 it shows that they are down by a massive fifteen and a half per cent.

It is not a perfect gauge on how the property market is performing, but it allows the consumer and the market to see that there is some movement in property.

Source [Yo Blog]