Residential property sales increases in UK

Modern house interiorResidential property sales up 1% between September and October compared to the previous month. According to Stephen Smith, director of Legal & General Housing Partnerships, despite the annual fall in sales, the monthly rise is a positive although overall the figures reiterate the unpredictable nature of the housing market. These figures confirm that the appetite for home ownership remains strong as we draw to the end of 2016.

Stephen Wasserman, managing director of West One Loans: “The market is picking up. We anticipate many buyers, buy to let and second home buyers will start to emerge from the woodwork once again, If this positive sentiment continues, we expect to see an increase in demand for short term finance, such as bridging loans, as purchasers look to stabilize property chains and snap-up new opportunities as they come to market. However, it’s crucial the industry works to boost the availability of competitive and suitable financing options to support the market’s continued recovery.”

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