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Affirmative: Industry believes property market is getting worse

The majority of intermediaries, property investors and developers are pessimistic about the state of the property market, Affirmative’s Q2 Mortgage and Market Overview has revealed.

Of those that answered the survey in both Q1 and Q2, 80% believed the state of the market was getting worse.

Chi Ho, head of underwriting at Affirmative, said: “It’s great to release our second Mortgage and Market Overview to our customers.

“Clearly, the industry is responding well to our efforts with an increase in responses this quarter.

“The more responses we get, the more data we are able to collect which will allow us to be more effective in what we are trying to deliver.

“Ultimately our goal is to provide our customers and the wider industry with an easily accessible way to get an informed view on the sentiment on the market, and we are humbled so far by the receptiveness and look forward to this continuing in our next report.”

Q2’s negative outlook follows Q1’s Mortgage & Market Overview showing more positive predictions of price growth across the UK, with 69% forecasting growth in the North West and 80% in Wales.

Three quarters of respondents predicted an increase in Scottish property prices and 67% predicted price rises in Yorkshire.

 

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