Property market slowdown 'not permanent'
The recent property market slowdown will not be permanent, it has been claimed.
Brits planning to invest in a bespoke conservatory or garden studio to make their home more attractive to buyers may have been disappointed by the recent drop in mortgage lending rates.
However, new figures from the Council of Mortgage Lenders (CML) show that home loan approval rates rose by 15 per cent in June 2010 compared to the previous month.
Assetz chief executive officer Stuart Law explained that while the housing market had slowed, it is unlikely to be permanent.
"We are seeing quite a lot of evidence of the market firming up. It doesn't look like house prices are falling back," he said.
The expert added that the CML data is indicative of the demand from buyers and that this should help keep the market buoyant.
Other improvements that may appeal to prospective homeowners include pool houses and kitchen extensions.
Posted by Cheryl Stevenson
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