More bad news for house prices: insiders are selling out

Published by Money Week on Friday, 30 September 2011 by Associate Editor David Stevenson
Estate agents are putting themselves up for saleThere was some good news for the UK housing market’s cheerleaders yesterday.

In August, the number of loans agreed for UK house purchases rose to 52,410. That was up from 49,644 in July. If more mortgages are being approved, that normally means greater demand for property.

Meanwhile, the average UK house price nudged higher by 0.1% in September following a 0.6% drop last month. Prices are still down year-on-year, but the fall has been cut to just 0.3%.

So are things looking up? As you might have guessed, we don’t think so. And it’s not just us.
Now the ‘insiders’ want out of the property market.

Mortgage approvals aren’t as good as they look

The pick-up in mortgage approvals …

Tags: bailout, estate agents, mortgage, property

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