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Housing market - buyer interest is up

10/06/2009

A recent survey by The Royal Institution of Chartered Surveyors (RICS) reported that new buyer inquiries in May had increased - for the seventh month in a row.

The survey also showed that average sales were at their highest level since August last year, according to the BBC.

Despite the positive results, RICS spokesman Ian Perry noted that: "With the economic backdrop still quite uncertain, unemployment is set to continue increasing sharply and finance for first-time buyers is still in short supply, there are a number of significant obstacles for the market to overcome over the coming months."

A spokesperson for Debt Advisers Direct commented: "Mortgages may be relatively hard to obtain, compared with a few years ago, but today`s lower house prices do mean that the average first-time buyer needs to take on lower levels of debt in order to buy a property.

"Anyone thinking of buying a house but concerned about the thought of taking on a debt the size of a mortgage should discuss it with a professional adviser."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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