Drew Wotherspoon, head of communications at John Charcol, commented: “With May’s figures reflecting the start of approvals made in the traditional home buying spring months, it highlights how much of a fundamental part consumer confidence still plays in the success of the housing market. As the much-threatened house price crash of 2005 failed to materialise, over the past six months consumers have returned to the table and lending is now regularly hitting record levels.
“There are no signs to suggest that this confidence will subside and while demand may even out towards the end of the year, I expect to see more strong figures for some time to come. At times like this it pays to remember the psychology of house buyers over and above the economic situation, they are taking their confidence from those around them.”
