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Are buyers returning to the UK property market?

The Royal Institute of Chartered Surveyors (RICS) has confirmed that property market queries have increased for the third month in a row with a 16% rise in January. While these property related enquiries have yet to translate through to actual sales, which are still near a three-month low, there is hope that it is only a matter of time. As prices continue to fall in many areas, UK property investors are finding their appetite again although funding for many people could still be a major issue.

While nobody is yet calling the bottom of the UK property market there are interesting signs which would indicate that if more finance was available then more appetite for UK property would surely follow. This could be the move which could tempt UK banks back into the mortgage market and alleviate some of the barriers to entry such as 20% deposits. If we do see a return of liquidity to the mortgage market, on the back of record low base rates, this could not only tempt many people back into the market but allow those who are struggling to downsize.

Any move which increases the attraction of the UK property market while potentially assisting those under threat of repossession will be widely appreciated across the board and could well be the first real sign of a recovery in the UK economy.

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