Housing Market Echoes Flat Economy

There was an interesting story on the BBC News Website commenting on a Report by the CML that activity in the UK housing market was subdued in August as the economy was flat and household confidence was low.  The CML have advised that gross mortgage lending fell slightly from £12.7b in July to £12.6b in August.  This was also 4% less than August last year.  This certainly follows the trend that I am noticing and I am expecting September to follow suit, if not be slightly worse.  The CML have predicted that new Government schemes  to encourage lending could inject some life into the property market and get the economy moving.  I shall keep you up to date with information as I receive it.

Lindsay Darroch
Partner & Head of Property

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