Contradictory reports from the Royal Institution of Chartered Surveyors (Rics) and the National Association of Estate Agents were published about the current property market in UK.
The National Association of Estate Agents (NAEA) reported that July was one of the strongest months for the real estate market.
According to this report, there was a rise in the number of householders hunting for a new property.
On the other hand, the Royal Institution of Chartered Surveyors (Rics) wrote about falling house prices and low demand for real estate.
Commenting about this, Timothy Lambert, the Head of Consulting at property investment consultancy, Ducalian, said that many first-time buyers would buy property since they believe that if they do not do so, they will miss the bottom of it.
“You also have pressure on the banks to lend, particularly after the recent profit announcements, where virtually all are back in the black,” he added. “However, they know there is likely to be a second dip, so [they] are not aggressive with their lending yet.”
Find a range of bridging loans on our website for your property needs.
Related posts: