House sales at highest level for 3 years Go compare with our comparison table

House sales at highest level for 3 years

12 April 2013 / by Isabel Buxton

The Royal Institution of Chartered Surveyors reported just over 17 property sales on average during the first three months of the year, pushing housing sales to their highest level in three years.


Sales on the rise


According to the latest monthly survey by RICS, which conducts regular surveys of its members to gain a picture of the state of the housing market,  this was the highest number reported since March 2010, and also indicated that sales rates have been rising for three consecutive months.


Government assistance


Demand for properties also improved over this period, and there is speculation that this could be due to the increasing affordability of mortgages. The Government’s recently-launched Help to Buy scheme offers to guarantee 15% of mortgage loans for people who want to buy but can’t afford more than 5% of their deposit. 

The Government’s Funding for Lending scheme, launched last August to give banks access to cheap finance, has also been cited as a factor in this trend. Cheaper lending for banks seems to be filtering down in the form of cheaper mortgage rates for customers.


Positive outlook


Peter Bolton King, RICS global residential director, said: ‘A buoyant, healthy property market is central to economic recovery. While these are still very much early signs, it is encouraging that sales are beginning to pick-up.’
 

Latest Mortgage Deals Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed

2.99%

Reverts to 4.70%

5

Years

75%

YesMore Info >
  • Available to all customers
  • Product fee of £999
Fixed

3.09%

Reverts to 4.70%

5

Years

80%

YesMore Info >
  • Available to all customers
  • Product fee of £999

*LTV = Loan to value (how much mortgage you have or require in relation to the value of your property).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products are a selection of top deals available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you contact our independent mortgage broker team at - independent mortgage broker or call on 0117 332 6063