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30/03/2009
Mortgage Approvals Rise By 19%
The number of mortgages approved for house purchases in Britain has jumped by 19% in February, figures have revealed.
Bank of England figures showed there were 38,000 approvals last month, up from 32,000 in January.
It suggests that record low interest rates and the recent decline in house prices have begun to entice buyers back to the property market.
Vicky Redwood, UK economist at Capital Economics, said: "February's household borrowing figures suggest that housing market activity may finally have turned a corner.
"The rise in the number of mortgage approvals for new house purchase... might suggest that the pick-up in new buyer inquiries is feeding through into actual activity. With new buyer inquiries still rising, this is clearly quite promising."
Last week the British Bankers' Association released figures showing the number of mortgages approved for house purchase by the major banks rose for the third month in a row during February.
However, it is thought much of that increase was driven by banks' greater market share, as opposed to higher overall lending levels.
These latest figures have beaten economists' expectations and are well up on the recent six month average of 31,495. This suggests sales may be picking up again.
(JM/BMcC)
Bank of England figures showed there were 38,000 approvals last month, up from 32,000 in January.
It suggests that record low interest rates and the recent decline in house prices have begun to entice buyers back to the property market.
Vicky Redwood, UK economist at Capital Economics, said: "February's household borrowing figures suggest that housing market activity may finally have turned a corner.
"The rise in the number of mortgage approvals for new house purchase... might suggest that the pick-up in new buyer inquiries is feeding through into actual activity. With new buyer inquiries still rising, this is clearly quite promising."
Last week the British Bankers' Association released figures showing the number of mortgages approved for house purchase by the major banks rose for the third month in a row during February.
However, it is thought much of that increase was driven by banks' greater market share, as opposed to higher overall lending levels.
These latest figures have beaten economists' expectations and are well up on the recent six month average of 31,495. This suggests sales may be picking up again.
(JM/BMcC)
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29 October 2009
House Prices Slowly Begin To Rise
The September data from Land Registry's House Price Index shows a rising market with a monthly house price change of 0.9% up from half a per cent in August. The annual drop of 5.6%, up from a low of minus 16.3% in February, takes the average house price in England and Wales to £158,377.
House Prices Slowly Begin To Rise
The September data from Land Registry's House Price Index shows a rising market with a monthly house price change of 0.9% up from half a per cent in August. The annual drop of 5.6%, up from a low of minus 16.3% in February, takes the average house price in England and Wales to £158,377.
20 June 2011
Mortgage Lending Boosted
Gross mortgage lending totalled an estimated £11.3 billion in May, according to new data from the Council of Mortgage Lenders (CML). This represented a 12% increase from the £10.1 billion lent in April and was 1% higher than in May 2010. Gross mortgage lending includes lending for both house purchase and remortgage.
Mortgage Lending Boosted
Gross mortgage lending totalled an estimated £11.3 billion in May, according to new data from the Council of Mortgage Lenders (CML). This represented a 12% increase from the £10.1 billion lent in April and was 1% higher than in May 2010. Gross mortgage lending includes lending for both house purchase and remortgage.
29 February 2008
January House Prices Show Slight Increase
House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
January House Prices Show Slight Increase
House prices in England and Wales increased by just 0.9% in January, according to the latest monthly figures from Land Registry. The increase takes the average house price to £186,045. However, the data shows a decline in annual house price changes, from 6.7% last month to 6.4% this month. London experienced annual price growth of 13.
15 April 2009
House Purchase Lending Edges Up And Remortgaging Declines
The number of house purchase loans ticked up in February, according to new data from the Council of Mortgage Lenders (CML). There were 24,300 house purchase loans worth £3.1 billion, compared with 23,400 loans worth £3.1 billion in January - a 4% increase.
House Purchase Lending Edges Up And Remortgaging Declines
The number of house purchase loans ticked up in February, according to new data from the Council of Mortgage Lenders (CML). There were 24,300 house purchase loans worth £3.1 billion, compared with 23,400 loans worth £3.1 billion in January - a 4% increase.
15 October 2013
ONS Figures Show Record High For House Prices
According to new figures from the Office for National Statistics (ONS), UK house prices reached a record high in August, standing at 185.8. The average house price is now at its highest since the house price index was established in 1968, peaking at £247,000, according to the ONS.
ONS Figures Show Record High For House Prices
According to new figures from the Office for National Statistics (ONS), UK house prices reached a record high in August, standing at 185.8. The average house price is now at its highest since the house price index was established in 1968, peaking at £247,000, according to the ONS.
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