Rics comments on BBA figures

Recent British Bankers Association (BBA) statistics show an increase in interest from home buyers, according to Royal Chartered Institution of Surveyors (Rics) chief economist Simon Rubinsohn.

He said the results show a correlation with Rics figures released earlier this month, which also demonstrate a rise in enquiries.

Mr Rubinsohn explained that even though the BBA has reported three months of consecutive increases in lending, actual activity in the market is still close to an all-time low.

"It would be premature to conclude that some semblance of order has returned to the housing market," he said.

It remains a tall order for buyers to acquire mortgage finance and typical loan to value ratios are making it challenging for first-time buyers to access the market, the expert added.

There was a 48.4 per cent fall between gross mortgage lending in February 2008 and the same month this year, according to the BBA figures.