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Bo E Quarter Report: Unexpected Dip In Demand For Property

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Demand for mortgages falls despite credit rise

Emma Rowley and Richard Tyler, 11:41, Friday 1 October 2010
Demand for mortgages fell for the third quarter in a row even as the supply from lenders increased, according to new Bank of England data.
The Bank of England's third-quarter Credit Conditions Survey reported lenders experiencing a slight improvement in credit availability in the past three months after their own funding costs dropped, but seeing an
"unexpected" dip in demand from property buyers.
Lenders also expected to keep tightening credit-scoring criteria for mortgages, amid increasing caution over lending to the self-employed and assessing households' ability to afford high loan-to-value mortgages.

Just because there is more credit doesn't mean that the sheeple are still dumb enough to pay unsupportable bubble prices.

A dip in demand for bubble priced properties should not really have been unexpected unless the BoE are all fools.

Edited by Realistbear
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Sums it up really, the ATM is closed :unsure:

Housing Equity Withdrawal (HEW)

HEW was -£6.2bn in Q2 2010, slightly more negative than the Q1 2010 figure of -£5.3bn (revised down from the previous published figure of -£3.2bn). Individuals have injected £44.2bn into housing equity since Q2 2008 (when the HEW measure turned negative). HEW as a percentage of post-tax income was also slightly more negative than the previous quarter, at -2.5% compared to -2.1% in Q1 2010 (down from the previously published -1.3%).




Edited by dammfoolman
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