HBOS predicts strong year for housing market

28 April 2004
HBOS, a leading mortgage lending company, believes the housing market will become even stronger than it originally predicted.

Having seen the year begin highly promisingly, the company's chairman Dennis Stevenson has forecast a significant growth in house prices over the next few months.

Mr Stevenson's prediction came in response to warnings from a series of organisations, notably the International Monetary Fund, that see a difficult future for the British housing market.

HBOS also today announced its intention to reinforce its Irish business, and claimed it expects to provide around €800 million in home loans this year.

According to Sharecast, the company's Executive director Harry Slowey believes that "a target of 15 per cent market share in the coming years is on the cards, given our move to being a more mainstream contender with a wider distribution base."