Fall in UK house prices accelerates in Nov - RICS
However, enquiries by prospective buyers rose for the third month and are now up 11 percent since the end of summer, suggesting the Bank of England's Funding for Lending Scheme (FLS) is helping to release much-needed capital for buyers. The FLS offers banks cheap finance if they in turn lend on to households and businesses, and is designed to boost the economy in ways that the BoE's 375 billion pounds of quantitative easing bond purchases has failed to. "There is certainly some optimism creeping back into the housing market," Bolton King said. "The announcement in last week's Autumn Statement of funding to unlock large sites for house building is a step in the right direction, and the Funding for Lending scheme is beginning to bear fruit for potential buyers," he added. Property sales inched moderately higher with surveyors selling an average of 15.8 homes in November, up from a revised
Be the first to comment.