Stock markets this side of the pond have reacted very positively to this impressive news and many of the other European indexes have followed London’s lead. These surprising results were a massive boost to everyone and the firm belief is that we could be through the worse of things.

I must say that I am by no way a house price expert; I am in fact involved with offering Marks and Spencer voucher codes as well as other business interests including offering a DVD duplication service and about providing jobs in foster care.

Many governments from various countries around the world acted in a decisive manner offering stimulus packages and other measures in the hope that this would help the economy out of recession in as quick a time as possible, very well done is what I say.

The FTSE 100 index on the UK stock market has risen over three percent on the news and there is a confidence that it will rise further. All of the other European stock markets have also risen sharply and the hope is that the Dow Jones will also join in with the party when it opens later.

The word and general opinion coming from those “in the know” is that this could be the start of a much awaited house price bounce. There are many people in the country who want to buy a house but have been unable to raise the capital or obtain a mortgage. Credit is starting to flow a little easier, once again, and this in turn will of course help the housing market to become more fluid.

Before everyone becomes too excited and starts to spend all of their money thinking that the happy days are here again I would wait a while; there may well be further bad news around the corner. It has to be said that patience is most certainly the key at this stage.

The amount of mortgage approvals in March this year rose from around 38,000 to 39,230 which is a 4% rise on the previous month and according to the figures released by the Bank of England, the rise in mortgage approvals might continue going up.

The total cost of all the mortgages approved by the banks in March came to £4.6 billion, this is a total increase of £900 million on the previous month, however, this increase is not as large as the estimated average of £1.6 billion or even as large as the rise in approvals we saw in February of £1.5 billion, although, the total sum of money approved through mortgages in March, £4.6 billion, was much higher than the monthly average calculated from the previous 6 months figures.

There was also some good news from the building societies, the overall amount of mortgages approved by them has risen to £1,542 million compared to the previous month’s approvals of £742 million.

Finally, there were also some figures released by the British Bankers Association about lending to small businesses. Their figures showed how lending from banks to small businesses had risen by £271 million in March. However, these figures don’t line up with the messages sent out by the Treasury Committee who said that small businesses are finding it even harder to borrow the money that they need.

Although these figures may sound good, mortgage approvals in forward thinking and it’s mortgage lending that we should be looking at, the actual mortgage lending in March rose by £800 million which is not as much as anticipated and a lot less than the monthly average of £1.2 billion.

Although all of the above figure releases are good news for the economy and the housing market, there are still concerns that house prices could slump again in the next few months, and even if they didn’t, the economy is still a very fragile area.

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