Things are moving in the housing market again, according to the John Charcol Index, the monthly mortgage activity monitor from John Charcol, which shows a sharp increase in purchase activity this year.
"In 2008 purchases made up an average of 25 per cent of our business, however 2009 is a very different story," said Charcol's Ray Boulger. "Purchases have taken an increasing share over the course of the year to date, hitting 53.4 per cent in May.
"Furthermore enquiries for new business have risen sharply over the last few months, particularly for purchases, and in May the proportion of mortgage enquiries for a purchase was up to 59.7 per cent, compared to 49.0 per cent in April. This suggests that as these enquiries translate into actual business the proportion of purchases in our business written will continue to rise over the next few months. It seems that the market is continuing to show positive signs of recovery."
Date: 17th, June, 2009
Author: Ben Wilkie
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