The Council of Mortgage Lenders (CML) has produced another lackluster set of figures, this time illustrating the extent to which the UK housing market lost ground in the year to end-July. Compared with June, lending for house purchase rose by both volume and value in July, to 48,800 and £7.3 billion respectively, but both figures [...]
July
House purchase mortgage approvals nudge ahead
New figures from the Bank of England show a £0.7 billion rise in mortgage lending in July, with the figure up 0.1% compared with June but failing to meet the previous six-month average increase of £0.9 billion. Reflecting the overall stagnation in the housing market, the three-month annualised growth rate in new lending decreased 0.1% [...]
Land Registry: house prices up 1.3% in July
House prices in England and Wales rose 1.3% in July, compared with June, Land Registry figures show. However, at £163,049, the value of the typical home was down 2.1% year-on-year, with London the only region to have experienced an increase over the last 12 months (up 1.3%). The South West registered the greatest monthly rise [...]
Banks’ mortgage lending stable
High Street banks approved 74,590 mortgages in July, up from 71,521 in June and ahead of the previous six-month average (69,803), according to the British Bankers’ Association (BBA). House purchase approvals rose to 33,417 following on from June’s 32,123 and ahead of the previous six-month average (30,695). At £151,500, the value of the typical house [...]
