more people buy property in uk
News Posted On: 01 April 2009
The number of UK mortgage approvals in the UK last month rose by nearly 20 per cent, which might encourage those considering buying property in the country.
Statistics from the Bank of England revealed that approvals for home loans rose to the highest level since May 2008.
Month-on-month, the number of approvals increased from 31,791 to 37,937 in February.
The Royal Institution of Chartered Surveyors (Rics) suggested that the surge in buyer interest is in part down to a decline in real estate prices.
Simon Rubinsohn, Rics chief economist, said: "This reflects in no small measure the improvement in affordability in the wake of the 20 per cent drop in house prices and the sharp reduction in borrowing costs."
Property buyers might wish to look at purchasing homes in London, particularly as property in the city is now more affordable than in Monaco.
According to the Financial Times, the UK capital was knocked off the top spot in a list of most expensive places in the world to purchase residential real estate.
Written by Matthew Bonner
Overseas mortgages - keeping you updated with the best mortgage rates on the market 
Back to news articles for this country
Latest Related News Articles in England
Global House Prices Being Pulled Down by Euro Crisis
2011-12-20
According to the latest release of the Knight Frank global house price index, the world's house pric.....
UK Property Prices Edge up Slightly in November
2011-12-01
Prices of residential property increased by 0.4% in November and are 1.6% higher than a year ago, ac.....
Thousands of UK FTBs Could Be Trapped in Their Homes
2011-11-17
A new report from HSBC has pointed out that up to 360,000 of 2007's first time buyers could be trapp.....
UK House Prices Up for First Time in 3 Months says Halifax
2011-11-10
Data just released by the Halifax show property prices in the UK increased in October for the first .....
UK FTBs Should Head North Research Shows
2011-09-29
The average age of first-time buyer in the UK is now 29, but according to research from the Halifax .....
Strong Demand Foretold in UK Buy to Let Sector
2011-09-26
A survey by property investment company Assetz has found that more than 3 quarters (76.8%) of UK inv.....
UK Lending Still Tight to First Time Buyers and Low Earners
2011-08-17
A new report has found that despite record low interest rates and an increase in 90% mortgages, lend.....
UK Property Market Stuck in Rut till 2020 says PWC
2011-07-13
UK house prices will be lucky to have returned to their pre-bust levels by 2020 says Pricewaterhouse.....
Investor Appetite Grows for Student Accommodation Investment
2011-05-25
If the property market in the UK, and the rest of the world for that matter, was nice and straight f.....
UK House Prices Well into Double Dip Terrain
2011-05-09
UK house prices fell at the fastest annual rate since October 2009 in April this year, putting us we.....