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UK mortgage market 'remains volatile'

Wednesday, 19 May 2010 12:00 AM

Property sales figures have been changing on a "monthly basis", with any signs of recovery "still in their infancy", according to independent property investment consultancy Ducalian.

The firm's senior consultant Andrew Styles said: "Overall, I am of the opinion that the market still remains fragile with house prices susceptible to market volatility.

"The green shoots of recovery that many predicted last year are still just as green and largely in their infancy."

However, he added that the market will definitely recover at some point, adding that it is unclear how long this recovery will take.

Meanwhile, recent figures from the National Association of Estate Agents indicate that the number of househunters registering to look for property increased from 274 in March to 277 in April.

The number of sales agreed across the month remained strong at an average of eight per estate agency, which is the same as in March.

Around 21 per cent of sales were made to first-time buyers, the data revealed.

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