Monday, Mar 30, 2009
Feb: Home purchases up; Remortgaging down
Bank Of England: Lending to individuals: February 2009
The increase in net lending secured on dwellings (£1.5 billion) was higher than the January increase and the previous six-month average. The number of loans approved for house purchase (37,937) was higher than in January and the previous six-month average. Approvals for remortgaging (32,633) and for other purposes (31,372) were lower than in January and the previous six-month averages.
*** Home purchases back to the level of Jun 08 (peak was Sep '06 @ 126K)
Posted by 51ck-6-51x @ 10:35 AM (1051 views) Add Comment
11 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. paul said...
Bouncing along the bottom. Not resurfacing.
2. uncle tom said...
Note that despite many news stories about people saving and not spending, debt is still growing, albeit at a much reduced pace.
Trying to get consumers to spend more in order to beat the recession, is not a sustainable solution.
3. montesquieu said...
If a reasonable number are focusing on paying down debt (anecdotal evidence suggests that this is the case) rather than acquiring more, doesn't that suggest that a smaller number are piling on debt even faster than before, perhaps using up lines available to them (such as overdrafts or credit card limits) in order to survive a downturn in income/maintain lifestyle/service other debts?
When working from home the past few weeks I've been pestered by leafled droppers and door knockers selling driveway resurfacing, kitchens, roofing, cleaning services etc, far, far more than normal, they can only do this in large numbers if they are not busy doing real work.
4. justwatching said...
number of loans UP 12% on Jan figure.
Number of loans DOWN 44% on Feb 08 figure
Number of loans DOWN 67% on Feb 07 figure
BUT
although number of loans MoM went up 12%, their value went up a MASSIVE 3%. HMMMMM.
Work that puppy out.
ALL seasonally adjusted of course.
Back to the calculator.
Do you ever get the impression your calculations are wrong?
My calculator is telling me the average loan value for Jan 09 was £286,968???
& for Feb09 £248,016???
A 13.6%drop???????????????
5. justwatching said...
value of loans % by number of loans = ave loan value.
Am I missing something?
6. justwatching said...
piss
should have been a divide sign
7. str 2007 said...
I must be missing something because the number of mortgage approvals by the council of mortgage lenders was about 30,000 discussed here the other day.
These figures point to loans for house purchases as approaching 38,000.
Have we got 2 different surveys going on or are the books getting cooked.
These figures are relevant, or as relevant as the average house price and I feel we should all be clear at what we're looking at.
Perhaps we should have a these details up[dated monthly on the Graphs page together with the already listed Haliwide house price indexes to help us all read a clearer picture of what is going on.
8. str 2007 said...
I apologise we already have.
Time flies, we must have been discussing last months figures 'the other day'.
Come on guys, I know it's peak buying season now but a 22% increase over last months figures is significant.
I though I'd seen alot of houses selling and this seems to confirm that.
9. Sold My Soul To The Never Never Never said...
There's been a lot of houses selling in my area - 13 on one page of the local rag - they were the repossessions!
10. quiet guy said...
str2007,
You might find the latest UK Bubble blog article interesting.
http://ukhousebubble.blogspot.com/2009/03/mortgage-approvals-up.html
11. str 2007 said...
So who is Alice Cook quiet guy ?
There's alot of bloggers out there aren't there, it's all I can do to keep up here, I don't know how they find the time.
How do you keep it up Mark Wadsworth ?