Peter Rollings responding to the latest HPI from Halifax
Thu 06 Dec 2012
"Funding for Lending is by no means a silver bullet for the housing market, but it is starting to improve conditions on the ground for many prospective buyers. Falling rates have begun to feed through into higher mortgage approvals recently, and while the level of lending is far from ideal, the slight pick-up unlocked enough demand to buoy house prices last month, with many buyers hurrying to get into their new home before Christmas. However, the charge is still being led by those with decent equity or substantial deposits. In the absence of any stamp duty concessions for first-time buyers in the Autumn Statement, how many steps forward the national housing market takes in the New Year will be dictated by lenders' ability to target buyers with the smallest deposits with cheaper loans, and by how much they can loosen their tight criteria."