Housing market activity 'likely to remain sluggish'
Property professionals
27th April 2010
There is not likely to be much movement within the UK's housing market during this year, it has been forecast.
According to the Council of Mortgage Lenders (CML), significant activity in the residential property sector is unlikely because people will be waiting for greater economic certainty and the General Election result before purchasing properties and insurance for buildings with them.
A spokeswoman for the organisation explained: "There will be ups and downs but what we think is that everything is going to be flat for the rest of the year and there is not going to be a lot of movement either way."
Her comments follow data from Hometrack indicating house prices rose by 0.2 per cent during April, dipping slightly from a 0.3 per cent climb in March, as the supply of properties continued to outstrip levels of demand.
The General Election on May 6th is believed to be creating high levels of uncertainty within the housing market, with the number of viewings per sale rising for the third month in a row in April.
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