2
Sep
Homebuyers 'should be more confident about property market'
Homebuyers looking for a house for sale in the UK have been told to
be more confident about the property market.
According to Catherine Hearnden, director at MyMortgageDirect, the
residential real estate industry in Britain is doing better than is
perceived in the media.
She said: "The market has been talked down rather it actually being
down."
Her comments are compounded by recent figures from the Bank of
England which revealed that total net lending to individuals rose
in July by £0.3 billion.
The Council of Mortgage Lenders also reported that the amount
borrowed by homebuyers in July 2010 increased by five per cent from
the previous month - going from £12.9 billion in June to
£13.6 billion in July.
Ms Hearnden added that people should remain more confident about
the market as negative predictions can be a self-fulfilling
prophecy.
She stated: "They are going to believe what the media are telling
them."
The property market will pick up, the housing expert said, "if we
can just get a little spark of confidence back".