Mortgage Market
Lenders keen to hit target, coupled with low housing activity levels has lead to a very active and fluid mortgage market. Fixed and variable rates at all loan-to-values have been reduced, as well as loosening in credit policy.
Housing Market
Savills research has shown that while mainstream housing markets in the UK have remained sluggish, prices in the prime residential markets of London have returned to growth in 2011.
Prime Central London has been strong with demand from overseas buyers fuelling the market for larger houses and newly developed luxury apartments.
Whilst the prime London residential markets have shown strong price growth in the past six months, the prime regional and country house markets are yet to benefit from any significant ripple effect out of the capital. A noticeable lack of London relocators, together with subdued local buyer confidence, has meant price growth has stalled.