Credit crunch 'only having small impact' on self build

The self buildindustry is withstanding the credit crunch much better than other parts of the housing sector, it has been suggested.

Raymond Connor, the chief executive of Buildstore, said the credit crunch has only made a "limited" impact on the self build and renovation sector.

He made this comment as the firm's self build and renovationmortgage arm BuildLoan unveiled its new key relationship manager, Julie Johnson.

Welcoming the appointment of Ms Johnson, Mr Connor stated: "We are delighted to have someone of Julie's calibre and experience on the broker team."

While the self build sector may have come out lightly from the credit crunch so far, other sectors of the propertyindustry have not.

Nationwide's latest house price figures show that the average home has dropped in price by 0.9 per cent in the past month and 6.3 per cent in the past year.