Tuesday, January 4, 2011

More Bear Nibbles

House prices warning despite increase in mortgages

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.

Posted by mark wadsworth @ 02:01 PM (2338 views)
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4 thoughts on “More Bear Nibbles

  • Oh I see Myra “Confessions of a landlady” Butterworth is still desperately clutching at straws. Would have thought she’d have sold up by now (or maybe she cannot bear to take the loss?)

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  • I stand to be corrected by there were only 21 workings days in November compared to 22 in October, so 47315/21×22=49568 therefore the number of mortgages dished out during November (per available working day) actually fell by 3.3%.

    Therefore the headline could be re-written as mortgage approvals drop 3.3% during November.

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  • Wrote that down wrong, should be 22 in Nov and 21 in Oct, calculation still stands as correct.

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  • heh good point enuii!

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