Director of Benham and Reeves, Marc von Grundherr, added: “Buyer indecision has been the biggest factor slowing the property market over the last year and who can blame them with interest rates climbing and mortgage offers changing by the day. However, we simply haven’t seen the same level of hesitation in recent months and market stability has improved notably since interest rates were first held in September of last year. This confidence boost has naturally led to an increase in mortgage approvals and sellers are already starting to benefit from a greater degree of interest and an increase in the number of offers submitted.”
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