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Stabilising housing market may lead to increased tracker mortgage demand

Date: Thu, 28 Apr 2005

The stabilising of the housing market could lead to an increase in demand for tracker mortgages.

Hometrack's April survey suggests that house prices falls since the beginning of 2005 have been getting progressively smaller - dropping to just 0.1 per cent in March and April - a sign that the slowdown could be now stabilising.

Hometrack's housing economist John Wriglesworth believes that once the forthcoming election is over the housing market will show signs of recovery.

"Election jitters are not helping, but this is only temporary," said Mr Wriglesworth.

"Post election, whichever party wins, there is likely to be a bounce back in the market, as the economic and political prospects become more certain, thus encouraging consumer confidence to return."

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