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Buyers show interest again

Buyers began to return to the housing market in November, the Royal Institution of Chartered Surveyors reports.

The trade body has seen new buyer enquiries rise for the seventh consecutive month and move into positive territory for the first time in more than two years.

Its housing survey shows that 14% more chartered surveyors reported a rise in new buyer enquiries last month, up from a negative balance of -9%.

RICS says that although underlying activity in the mortgage market remains weak, the turnaround in enquiries shows that buyer interest is returning.

The institution attributes its findings to the sharp base rate cuts delivered in the months up to and including November. It also identifies significant house price reductions as a reason for growing consumer interest.

A RICS spokesman says: “Many individuals are starting to see the current market as an opportunity to purchase property.

“But unless consumers feel relatively confident about their job prospects they are unlikely to try to obtain mortgage finance, bar cases where they are trading down or seeking to release capital.”


Santander transfers A&L shares to Abbey

Spanish banking giant Banco Santander is boosting Alliance & Leicester’s capital position by transferring its A&L shares to Abbey.

Action is better than inaction

In recent weeks we have seen a number of legislative changes designed to reduce the number of repossessions.

Landlords lost £144m per day during 2008

Landlords have lost £52.8bn in equity from their property portfolios this year, says Managing Partners. The fund manager says the year-on-year loss equates to £144.7m per day.

Inflation falls to 4.1%

UK inflation dropped again in November to 4.1% compared to 4.5% in October.


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