Housing market looking good

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Housing market looking good

It seems the recession has been the topic on everyones mind over the past few months, and the main subject being the current situation of the house prices. How they have reached the lowest in 20 years and how none of the banks are approving any mortgage applications. While the house prices aren't back to their best there are good signs of increase, another good sign is that mortgage approvals reached 42,088 in September, this is the highest the figures have been since the beginning of 2008.

Data collected by the British Bankers' Association (BBA) revealed that the number of loans taken for the purchase of a house had increased by 76.8% since this time last year. This is still 23.5% down on September's figures in 2007, although these increases are still promising.

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October 26th 2009

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