Increased mortgage lending is "good news" for the property market, it has been claimed.
Selwyn Lim, director of Mouseprice.com, explained that increased lending is far more encouraging that house price indices volatility.
She was commenting following the publication of two new house price indices from Halifax and Nationwide.
Both were in contradiction, with Nationwide figures indicated that average house prices had increased by 0.9 per cent in March while Halifax showed a fall of 1.9 per cent.
Meanwhile, recent figures from the Bank of England show that the number of loans approved for house purchases rose by 19 per cent in February compared to the previous month.
Commenting on the data, Ms Lim said: "[The] figure that was being reported was not speculation on house price change, these were figures for the number of mortgage approvals.
"I don't know how much volatility there has been with the approval figures but it's very transparent what they are."
See Also: Property News (5994)
Date Published: 09 April 2009
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