Mortgage figures continue to fuel market and exceed forecasted levels for September

Founder and CEO of GetAgent.co.uk, Colby Short, commented:

“A number of industry-wide indicators have shown that there continues to be plenty of activity from the buyer side of the property market, at least where mortgage approvals and lending are concerned. This is extremely positive given the prolonged period of political uncertainty that has plagued the market and demonstrates that the appetite for homeownership remains strong across the UK.

However, the current issue is, while there is plenty of fuel, we’re left at the side of the road without a car to put it in, as many sellers remain rooted to the spot either refraining from a sale altogether or continuing to adjust their price expectations in line with wider market conditions. This is certainly one of the main contributing factors behind the current market slowdown, but once the scales rebalance we should homebuyers and sellers drive off into the sunset as the market regains strength across the board.”