Wednesday, Aug 27, 2008
The UK is catching up with the USA
Times: British mortgage approvals plunge by 65%
Fresh gloom descended on the housing market today as it emerged that fewer than 22,500 mortgages were approved last month, a 65 per cent decline on last year and only fractionally above record lows for June. It is thought that the annual, near two-thirds slide in approvals is among the biggest ever recorded by the British Bankers' Association. The figures, which also show an 11.9 per cent slide in the average loan value to £138,000, suggest that there is little relief in sight for embattled British homeowners. David Brooks, the BBA's statistics director, said: "It would be premature to think that the housing market will now start to recover, because overall approval activity continues to be very low."
Posted by drewster @ 12:07 AM (322 views) Add Comment
1 Comment
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1. Danny said...
I think you will find, that as usual, {someone with a vested interest?} has fudged the figures, and per capita, the figures are the new record lows for June. Which shows the Times is just as gullable as every other newspaper....................'According to figures released by the British Bankers' Association'.......is this rhyming slang?!