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Commercial Property News
Residential property activity 'set to increase'
Ray Boulger of mortgage provider John Charcol said that rising prices will bring more existing homeowners into the market.
Activity in the residential property sector will increase this year as a result of slight house price rises.
This is according to senior technical manager at John Charcol Ray Boulger, who explained that people who wanted to move house last year but were unable to due to lacking the necessary equity will be able to enter the market if values continue to edge higher.
That will help to drive activity up a bit, he observed, adding that movement in the sector will climb “slightly”, but mortgage availability will continue to dictate the extent to which purchases can be made.
However, opportunities for taking out homeowner loans may rise over the course of the year, he remarked, as a growing number of lenders have moved into the “80, 85 and 90 per cent market” over the past two to three months.
Mr Boulger's comments came after head of residential research at Knight Frank Liam Bailey noted that high-end London residential property made a substantial recovery during 2009.
Activity in the residential property sector will increase this year as a result of slight house price rises.
This is according to senior technical manager at John Charcol Ray Boulger, who explained that people who wanted to move house last year but were unable to due to lacking the necessary equity will be able to enter the market if values continue to edge higher.
That will help to drive activity up a bit, he observed, adding that movement in the sector will climb “slightly”, but mortgage availability will continue to dictate the extent to which purchases can be made.
However, opportunities for taking out homeowner loans may rise over the course of the year, he remarked, as a growing number of lenders have moved into the “80, 85 and 90 per cent market” over the past two to three months.
Mr Boulger's comments came after head of residential research at Knight Frank Liam Bailey noted that high-end London residential property made a substantial recovery during 2009.
Mon, 4th Jan 2010