The six months of interest rate cuts and continual falls in house prices are supporting the property market, one expert says.
Since November buyer enquiries have been picking up and figures from this year have been "pretty buoyant", comments Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors (Rics).
He explains that the "potent mix" of the interest rate cuts, fall in house prices and foreign investors encouraged by the exchange rate are helping the market.
But Mr Rubinsohn also urges caution, pointing out that the rise in mortgage approvals is from "abnormally and abysmally low levels".
He says the February figure of 28,179 approvals is still very low by any historic comparison.
"Things are better, but off a very low level," Mr Rubinsohn concludes.
Propertyfinder.com last month stated that confidence in the property market is at its highest level since September 2008.
See Also: Property News (6705)
Date Published: 03 April 2009
Related News
