Reports from the housing sector is that the area is starting to pull out of the recession. House prices have risen for the first time in 18 months, with an average of 10 homes being sold a month, compared with 5 in August. The council of mortgage lenders have said that the number of people getting mortgages from banks have risen to 36%. The numbers of people getting a mortgage still arent as high as they once were, with people still viewing the industry with a cautious eye. The numbers are showing that prices have done a complete 180 and are now on the rise. House prices have seen a 2.5 % each month for four months straight. Prices are still lower than what they were before the recession, so it might be better to try buying that house now before prices go back up.

Does this news really seem to be as good as we first thought? Its a double edged sword for buyers, your more likely to get a mortgage, but the price of your home wont be as cheap as it wouldve been at the start of the year. For people interested in selling their home it could be worth waiting another couple of months to see if the prices continue to rise. Either way its the estate agents that win, not only will more people be getting mortgages, they will be getting it at increased prices again and will have more houses to sell. Before the recession people were complaining that house were overpriced, and now in the middle of it we were hearing complaints about the fall of house prices -no pleasing some people is there?

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