Housing market signs positive, says Bank

The UK housing sector is displaying a number of increasingly positive signs, a new Bank of England report has indicated.

Such sentiments were revealed in its latest agents’ summary, which stated that property sector professionals have been observing a notable upturn in “enquiries, offers and completed transactions – albeit from a low base”.

It also said that first-time buyer activity appears to have been increasing.

However, the report did acknowledge that there are still some concerns about the limited nature of mortgage supply and how this will affect the recovery.

Such a factor may interest those keen to look around for the best deal.

Earlier this week, the Bank suggested that information from banks and building societies in its quarterly Trends in Lending report offered reason for optimism.

It said that the positive indications about the supply of funding suggest that “mortgage lending for house purchase may continue to strengthen in coming months”.

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