According to the BBC Business News website, property sales are likely to continue rising, as mortgage approvals increase.
The Bank of England?s figures indicate that the UK property market is recovering, with mortgage approvals steadily rising.
The Bank?s Funding for Lending Scheme is clearly working ? as increasing numbers of home buyers are able to borrow funds to purchase their own homes.
Lending approvals have risen steadily in the period from June to November 2012, with the number of new mortgages approved for home buyers rising to 54,036 in November 2012.
What?s more figures for completed sales are also higher in 2012 than they were in 2011.
It is believed there will be a significant further increase in lending approvals in 2013, with the Council of Mortgage Lenders and the Royal Institution of Chartered Surveyors predicting that the Funding for Lending Scheme will aid a revival of lending and sales this year.
However, Bank of England figures also indicate that the mortgage debt owed by UK home owners continues to stand at record levels.
Source: http://www.businessnetworkinglink.com/2013/01/the-uk-property-market-2013/
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