Mortgage Industry News

← Back

Mortgage holders see market turn

Date: 1 March 2005

Mortgage holders will welcome news this morning that the housing market is showing some signs of recovery.

A survey from the Nationwide building society revealed that house prices increased by 0.5 per cent last month.

This contributed to an annual house price inflation level of 10.2 per cent.

Nationwide suggested that the data was evidence that the housing market had now bottomed out.

"Housing market activity, which had been slowing throughout the second half of last year, appears to have bottomed out," Nationwide's Alex Bannister said.

"Following the lull towards the end of last year, homeowner and prospective buyer sentiment has stopped deteriorating and buyers may now start returning to the market."

© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.