Friday, March 12, 2010

Bottom is really falling out of market now ….

Mortgage lending falls as buyers leave market

All loans down, first-time buyers take flight .... Homebuyers abandoned the housing market in January following the end of the holiday on stamp duty. The Council of Mortgage Lenders (CML) said the number of all home loans issued in January fell by 49 per cent 32,000 mortgages, and "emphatically demonstrates" the temporary lift the stamp duty break had given the housing market. The CML warned that lending is expected to remain weak over the next few months. The number of loans to first-time buyers fell even more steeply, by 54 per cent to 11,300.

Posted by goldbug9999 @ 01:18 PM (678 views)
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One thought on “Bottom is really falling out of market now ….

  • a bit simplistic to assume that buyers abandonned the property market because of the re-introduction of the stamp duty. Surely people dont buy just because they are saving a meagre 1% on a property ! People left the property market because they ve either lost their jobs or fear they could be loosing their job anytime soon.

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