7
Aug
Market 'back to normal next year'
The mortgage market in the UK will return to normal in a year, a
new study has suggested.
A survey of mortgage intermediaries by Pink Home Loans has found
that eight out of ten believe some sort of normality will have
returned to the market this time next year, with just over half
stating the expect the market to recover inside the next 12 months,
mortgageintroducer.com reports.
It found that nearly one-in five (18 per cent) anticipate a market
recovery within the next six months, something that associate
director of marketing and IT at the firm Neil Hoare said was
"surprising".
He added: "In some ways it's good to see the positive nature of the
intermediary marketplace."
The positive expectations may reflect a view in some quarters that
the property market will see a new boom once the current downturn
has passed by.
Such predictions include that by the Centre for Economic and
Business Research, which forecast last week that the lack of new
homes being built now could lead to a 30 per cent rise in prices
between 2009 and 2012.
