Mortgage Industry News

← Back

Rising house prices drive up UK mortgage demand

Date: Thu, 16 Feb 2006

Rising house prices could help to drive up demand for UK mortgages.

The latest housing market survey from the Royal Institution of Chartered Surveyors (RCIS) shows that that prices have increased for the third month running – a sign that the UK housing market is remaining confident.

An increase of nine per cent chartered surveyor estate agents confirmed a rise in prices during the three months to January, compared to eight per cent in December.

There has also been a significant increase in buyer enquiries – with a rise for the eighth consecutive month meaning that there is likely to be an increase in applications for UK mortgages.

RICS spokesperson Ian Perry said: "After months of struggling, the housing market is picking up. The current dynamics are favourable to sellers as the amount of property available to buyers remains limited."

He added: "Reasonably priced properties are selling well. December and January are traditionally quiet months so the Spring, when more people look to move, appears promising."


© 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.