Tuesday, January 4, 2011
More Bear Nibbles
Around 48,018 loans were approved for people buying a property in November, up from 47,315 the previous month, according to the Bank of England. The modest increase ends six consecutive months during which approvals for house purchases had declined. But it is well below the 70,000 to 80,000 approvals regarded to be consistent with a stable market. It comes amid an increase of 12 per cent in the number of properties sold at auction in November compared with a year earlier, according to the National Association of Valuers and Auctioneers.