The Council of Mortgage Lenders (CML) has revealed that activity in the house buying market in Scotland continued to improve in the final quarter of last year.
According to the CML, there were 14,200 loans for house purchase in the last three months of 2009, which represents a four per cent increase overall.
However, growth in the Scottish housing market was marginally slower than in the UK as a whole, which experienced a nine per cent rise in house purchase activity.
In addition, it was stated that the number of first-time buyers in Scotland was unchanged at 5,400 in the fourth quarter of the year.
Kennedy Foster, CML Scotland policy consultant, conceded that he does not "anticipate an increase in lending activity" in the short term.
He added: "A combination of bad weather in the early part of the year and the end of the stamp duty holiday will also have affected housing market activity, and will reinforce the slow start to 2010."
The CML recently predicted that mortgage lending in the UK will pick up this year, despite a slow rate of recovery, according to yourmortgage.co.uk.
Council of Mortgage Lenders reveals upturn in Scottish housing market
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Council of Mortgage Lenders reveals upturn in Scottish housing market
Thu, 25 Feb 2010
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