Sunday 27 November 2022

Housing market recovery better than expected

The housing market is recovering better than expected, Rabobank economists said on Friday.

The economists put the improved recovery down to the historically low mortgage interest rates and the growing confidence in the housing market which is now back to 2006 levels.

They expect between 135,000 and 145,000 houses to change hands this year and between 140,000 and 160,000 in 2015.

This is still below the numbers being sold before the 2008 financial crisis, the experts said.

House prices are also expected to rise: by between 0.5% and 1.5% this year and 1% and 3% in 2015.

 

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