RICS comments on BBA mortgage figures

Milan Khatri, chief economist at the Royal Institution of Chartered Surveyors welcomes the findings by the British Banker’s Association into the housing market.

He says: “The British Bankers’ Association figures show that underlying mortgage activity remains strong with few indications that higher interest rates are biting. These figures confirm reports from RICS members that housing demand is robust as the number of new jobs and incomes rise. While the housing market is set for a slowdown next year due to rising interest rates, first-time buyers will not find it any easier to purchase a property in 2007.”