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Huge surge in Market Activity

With all the conflicting newspaper headlines it is easy to become confused as to what the housing market is doing.  One paper announces the market is about to drop and another shouts out that we are about to enter into another boom – what on earth is going on?  One of the problems is that the reports are often made off the back of statistics provided by one provider of mortgages.  So if a provider has changed their lending criteria for that month they may report a decline or a rise in the number of mortgages approved – which is then reported as a decline or rise in housing costs as the average amount loaned fluctuates – it is not very clever journalism! Continue reading