If current trends in the mortgage lending market continue at their present rate, property prices, including those in the Bristol area, are likely to return to their pre-credit crunch levels in 18 months' time.
This is according to Stuart Law, chief executive at Assetz, who made his comments in the wake of figures released by the Council of Mortgage Lenders.
The industry body suggested that gross mortgage lending in September totalled around £12.5 billion. While this was still 27 per cent lower than during the same month last year, it was a two per cent increase on August.
Mr Law described the CML's statistics as "a very positive sign", adding that the home loan market has "materially recovered". The expert went on to state: "If it carries on at the rate we've been seeing for the last six months then prices will be back to their peak [in] 18 months' time."
