15 Dec

Housing market in 2011 'will remain stable'

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.ADNFCR-1222-ID-800293845-ADNFCR

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