Confidence "is now picking up again"

Homebuyers are correct to feel more confident about the state of the housing market, according to one property expert.

Dan Richards, group sales director at fish4, highlighted the fact that in the last few months the Bank of England and mortgage lenders have indicated that things are starting to improve, with the number of mortgages approved and completed sale prices increasing for the first time since October 2008.

His comments follow the publication of research from FindaProperty.com, which revealed that just under half of those surveyed had saved up a deposit of at least 25 per cent.

"The property market crash was the first indication that the recession was coming and, as such, we should all be buoyed by the fact that home buying is now picking up again," stated Mr Richards.

In related news, the Land Registry House Price Index recently found that average property prices in July increased by 1.7 per cent to £155,885.