Britain's housing market outperforming Europe

02 March 2010

People looking into equity release schemes such as lifetime mortgages could be among those to be encouraged by a new report.

Recently released data from the Royal Institute of Chartered Surveyors (Rics) has suggested that the UK housing market is improving faster than most of Europe.

According to the organisation's 2010 Rics European Housing Review, the UK was among only five European countries to record a rise in property prices throughout 2009.

This could come as good news to those who are considering a lifetime mortgage to ease their financial burdens.

Simon Rubinsohn, Rics chief economist, said: "A combination of extraordinarily low interest rates and a raft of government measures have helped to put a floor under residential property markets in most European countries.

"A firmer tone to the macro news flow is also providing a layer of support with clear evidence that an economic recovery is now under way.

Indeed, in a number of cases the boost to liquidity has pushed prices back in the direction of previous highs."