15
Dec
Housing market in 2011 'will remain stable'
The Council of Mortgage Lenders (CML) has told estate
agents that the housing market is likely to remain stable next
year.
In its New & Views report published today (December 15th 2010),
the CML gave predictions on what will happen to the home loan and
property market in 2011.
It used forecasts given by financial experts about the future of
the UK economy, with the general consensus being that fiscal
activity next year will be uneven.
With this in mind, the CML stated that property and mortgage
markets "have made significant progress since the financial crisis
of two years ago".
It went on to say they "now appear to be on a more stable
footing."
Michael Coogan, director general of the CML, recently said that a
steady lending market is likely to continue for some time after a
report revealed that there were 46,000 mortgages advanced in
October 2010.