article_snippet: Robert Gardner, Nationwide's chief economist said: 'Economic conditions have remained supportive, with labour market conditions continuing to improve and mortgage interest rates close to all-time lows. '
article_snippet: Nevertheless, the pace of housing market activity has remained subdued, with the number of mortgages approved for house purchase in January around 20 per cent below the level prevailing one year ago.'
article_snippet: Some experts have suggested that the looming general election could have an impact on the market, with people putting off people plans to await the outcome.
article_snippet: But a report from the British Bankers' Association (BBA) found this week that the number of mortgage approvals being made to home-buyers is starting to see an upward trend.
article_snippet: the British Bankers' Association (BBA) said that early 2015 is seeing a higher demand for mortgages than the levels seen towards the end of last year.
article_snippet: The reform of stamp duty in December has made the tax cheaper for the majority of home-buyers who are liable to pay the tax.
article_snippet: Meanwhile, estate agents have reported receiving inquiries from older people who are considering investing in the buy-to-let market, due to the new pension freedoms which will come into force in April and give people aged 55 and over a greater level of choice over how estate agents use estate agents pension pots.
article_snippet: Howard Archer, chief UK and European economist for IHS Global Insight, said: 'There are signs that housing market activity may now be slowly turning around after weakening during much of 2014 and we suspect it will gradually improve over the coming months.'