Peter Charles, chief economist at Mortgage Express, said: “There’s no doubt that prospects are better now than at any time in the past year. With the MPC voting to keep rates unchanged for the ninth consecutive month, it looks increasingly likely that rates have reached their peak and the next move will be downwards. With the Election out of the way, there is now greater certainty about the conduct of economic policy. Gordon Brown has had considerable success with his prudent approach and he’s not going to change his strategy now”.
“But the most important factor boosting prospects for investment is the stability of the housing market. Over the past year there have been some wild projections about steep falls in house prices. It is becoming obvious that these forecasts are proving markedly pessimistic. Investors are increasingly confident that prices will rise in the medium to longer term, while the risk of short term losses has diminished.” Charles concludes.
