Although House Prices see falls, Lending is still heading up!

Although House Prices see falls, Lending is still heading up!

Although House Prices see falls, Lending is still heading up!

Although some of the House Price Indices have been reporting falls in the average house price, the Bank of England’s statistics on Lending to Individuals shows some small increased in the total amount lent.

For August the overall lending rose by £1.0 billion which was less than the previous 6 month average increase, but unchanged at 0.9% rise over the last 12 months.

Lending on Houses (Dwellings)

The lending however on houses, or dwellings as the Bank’s statistics calls it, was also up, however only by £0.6 billion. This was in line with the previous 6 month average, but down against the 12 month rate by -0.1%.

The number of loan approvals for house purchases increased, contrary to the recent Land Registry figures for England and Wales, to 52,410. The figures for remortgaging also increased in August to 34,668.

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