One-way street

Repossessions are at their lowest and loans to first-time buyers are at their highest since 2007. Has the housing market finally turned the corner?

That’s certainly one interpretation of stats released by the Council of Mortgage Lenders (CML) this week showing big improvements since the year the credit crunch hit.

On Tuesday it revealed that 216,200 first-time buyers became homeowners in 2012. That was a 12 per cent rise on 2011 and it’s the first time since 2007 that the annual total has exceeded 200,000.

Read the rest of this post on Inside Edge, my blog for Inside Housing