Alliance & Leicester believe that people are becoming more confident about taking on a mortgage. Their data shows that 15% of households recently said that they planned to move house, buy a property for the first time, or re-mortgage by the middle of the summer, compared with just 7% in January.
Their report also found that one in six under 30's intend to get onto the property ladder this year. The bank has said that the total value of mortgage debt has exceeded £1 trillion for the first time, but despite the increase, they have said that affordability for those taking out new mortgages remains the same, due to low interest charges and higher incomes.
Our view
Property is on the increase, with London the key driver. As ever, our warning is simple - beware of interest rate increases.
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