Credit crunch a 'blip' for housing market - haart

clock

The credit crunch will have a minimal short term impact on the housing market, with estate agencies experiencing business as usual, claims estate agents haart.

Paul Smith, chief executive of haart, comments: “While the current credit crunch and its effect on major banks and lenders is certainly concerning, homebuyers looking to move will not be put off and we have not yet witnessed a drop in activity in our estate agency branches. “However, we believe that the Bank of England should now consider reversing the latest interest rate rise, which many felt was unnecessary, as a reduction now would surely bring calm and a much needed renewed confidence.” House prices have already begun to level off in many areas and this trend is set to continue mor...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read

Spring Statement 2018: 60,000 first-time buyers get stamp duty boost

27,000 ‘affordable new homes’ to London

Hannah Godfrey
clock 13 March 2018 • 1 min read