Insurance News Archive

Property insurance: Positivity 'will boost housing market'

Written by Jonathan Walker

Increasingly positive reports in the media surrounding the property market will help to instil confidence in potential buyers and tempt them to invest, according to an expert whose views may interest those with property owners insurance.

Catherine Hearnden, director of MyMortgageDirect, said that people are starting to feel a bit more optimistic about employment, because even though there has not been an increase in available jobs, there have been fewer redundancies.

This has inspired people to take their plans off hold and instead consider moving house or try to step onto the property ladder, she explained.

"And then you will have some people who are speculating, thinking, well this could be the bottom of the market or we've passed it, so let's get on the ladder while we can," she added.

Recent figures from the Council of Mortgage Lenders showed that gross mortgage lending stood at an estimated £16 million in July, which represented a 26 per cent increase compared to June but was still down by 36 per cent from the same month in 2008.

26 Aug 2009