The CEBR expects house prices to rise as Bank of England reveals mortgage approvals are higher.
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Monthly Archives: September 2013
The Bank of England has confirmed the number of mortgages approved is at the highest level for the past five-and-a-half years.
David Cameron has promised to launch the Help to buy scheme with mortgages up to 95% loan to value.
House prices in London are rising at a faster annual rate compared to other parts of the country and benefits families in the capital.
London property prices are up by 9.7% for the year to July after strong demand from overseas investors.
To reduce the cost of repayment mortgages, first time buyers are opting for longer terms of up to 40 years.
There is concern that the proposed Help to Buy Scheme will cause the housing market to overheat.