Salient to Investors:
A RICS index increased to the highest since June 2002. Mortgage lending climbed to the highest level in almost 6 years in Q3. The gap between demand and supply widened to the most since May 2009. RICS said house prices are expected to continue rising in all regions except northern England and sales expectations climbed to the highest on record – a rise of 3 percent nationally in the next 12 months.
Simon Rubinsohn at RICS said we are still well behind in terms of the amount of properties needed.
The Council of Mortgage Lenders said today loans for house purchases advanced in Q3 the most since Q4 2007.
The IMF says the UK government’s Help to Buy initiative potentially can stoke a housing bubble.
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