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Commercial Property News
Residential property market 'will continue to improve'
Further improvements are likely to occur in the residential property market this year, one expert has predicted.
Chief executive officer of Assetz Stuart Law noted that the market has been "consistently going up over about ten months" and will continue to do so in the future.
This, he explained, is partially due to the fact that parents are increasingly helping their offspring secure the funding needed to get a residential mortgage and move onto the property ladder.
"Homebuyers have definitely been taking advantage of the market conditions, without a doubt," he remarked, adding that the residential property market is likely to see steady growth in 2010, with a 5% rise predicted.
However, Mr Law also warned that there are still "plenty of risks" left in the market.
Figures released by the National Association of Estate Agents last week showed that the number of sales made to first-time buyers rose from 19 per cent in December to 23 per cent last month, with the number of people registering their interest in purchasing homes also rising.
Chief executive officer of Assetz Stuart Law noted that the market has been "consistently going up over about ten months" and will continue to do so in the future.
This, he explained, is partially due to the fact that parents are increasingly helping their offspring secure the funding needed to get a residential mortgage and move onto the property ladder.
"Homebuyers have definitely been taking advantage of the market conditions, without a doubt," he remarked, adding that the residential property market is likely to see steady growth in 2010, with a 5% rise predicted.
However, Mr Law also warned that there are still "plenty of risks" left in the market.
Figures released by the National Association of Estate Agents last week showed that the number of sales made to first-time buyers rose from 19 per cent in December to 23 per cent last month, with the number of people registering their interest in purchasing homes also rising.
Tue, 16th Feb 2010