Brokers have seen an upturn in activity in the housing market in January with the number of viewings increasing and pushing up house prices.
Mortgageforce chief executive Rob Clifford says January saw a slight increase in the average loan size to around £110,000. He says activity levels are higher than they have ever been in January, which is a sign that the market is bouncing back.
Hamptons International Mortgages technical director Jonathan Cornell says estate agencies recorded a high level of activity last month, with more people registering and having valuations done. The firm saw a big rise in house prices in the last quarter of 2003 and believes there have been price increases in January.
Clifford says: “Activity levels have been extremely buoyant in January and this is reflective of an increase in house prices.”
Cornell says: “Agencies have recorded high levels of activity, with more people registering and having valuations done. There have also been lots of viewings, which can lead to clients thinking that they should increase the asking price of their property.”