Housing market set to grow

The Housing market is to "continue steadily forward" in 2010, it has been claimed.

Property investment adviser, Assetz has claimed that the market is set to grow by a "modest" five per cent over the next 12 months.

Stuart Law, the firm's chief executive said the growth could be attributed in part to a rise in the number of first-time buyers.

Mr Law claimed that more parents are deciding to put their money into a property for their children as the economic downturn has depleted the number of safe investment options.

The main reason for it consistently going up over about ten months and continuing to do so is that parents are continuing to assist their children in getting on the property ladder," he said.

"[This is] because they do not have a viable alternative place to put their money that produces a decent, safe return."

An increase in the number of 90 per cent loan-to-value mortgages available on the market was also cited by the expert as an indicator of sustained confidence in the market.

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