Thursday, Sep 23, 2010
On the downslope and gathering pace..........
BBC: Bank mortgage approvals dip again
The number of mortgages for home buyers approved by banks fell in August for the third month in a row. Banks approved 31,767 home loans, the lowest number so far this year, down from 34,219 in July, the British Bankers' Association (BBA) said. The figures are another indication that the UK property market has reached a plateau.
Posted by jack c @ 10:11 AM (952 views) Add Comment
9 Comments
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1. Shupufski said...
"The figures are another indication that the UK property market has reached a plateau.
Most surveys have shown that prices are no longer rising, while the number of completed sales also fell last month"
They STILL cant say it can they?
Prices ARE FALLING!
2. Home_to_roast said...
Picture this: you are climbing a mountain very slowly. You reached the summit a little while ago, and now you are tumbling down the side of the 30,000ft mountain at terrifying speeds. Do you say to yourself: "This is it ..... I've hit the PLATEAU :-O"? .. or something more appropriate?
Semantics ... that's all you ever get out of these bloody VIs ....
3. Cashisking said...
Are there any data for mortgage applications (ie demand) rather than approvals??
4. wdbeast said...
In the interview embedded in this article, the reporter asks David Dooks of the BBA if he is concerned that new mortgage lending is 22% down, where does he get that number from, it is much worse than the headline reporting.
5. This comment has been removed as it was found to be in breach of our Blog Policies.
6. mark wadsworth said...
Hmm. This is a "plateau" is it? So that means after this prices will fall again, right? Or else they'd be referring to an "alluvial valley floor" or something.
7. sibley's b'stard child said...
"The figures are another indication that the UK property market has reached a plateau".
Bit of a misnomer there; plateau would indicate height. How about - 'reached a permanent nadir'?
A bit OT; the wife's friend was round last night and admitted that the house she bought in Maidstone three years ago has gone down in value circa 20k; wiping out all the deposit they put in.
8. Goldbug9999 said...
"wife's friend was round last night and admitted that the house she bought in Maidstone three years ago has gone down in value circa 20k; wiping out all the deposit they put in."
Anyone who bought a house in 07 has rocks for brains
9. 51ck-6-51x said...
The BBA Report
In graphs: