Thursday, September 22, 2016

Housing market picking up again….

Housing market picks up speed in August - as Help to Buy scheme fades

Mortgage lending climbed sharply in August, reversing the post-referendum fall in July and taking the market to its highest summer level since 2007.

Posted by tom101 @ 01:26 PM (6468 views)
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4 thoughts on “Housing market picking up again….

  • Gross mortgage lending, ie including remortgaging, after a base rate drop?

    What a load of nonsense. The news from the coalface ie RICS is that there’s a stalemate. Buyer’s strike meets seller’s strike. Hardly consistent with increased lending. It’s not as if the CML doesn’t know how much of these loans are for remortgaging and how many are for house purchase.

    Only scanned through the guardian write-up on this but it seems a lot more balanced.

    https://www.theguardian.com/money/2016/sep/22/mortgage-lending-august-cml-housing-market-eu-vote

    The Telegraph is just awful on property these days. It’s basically propaganda. I don’t know what Peter Oborne was referring to when he said the advertising clients were affecting the editorial line on certain topics, but I wouldn’t be surprised to learn if property was amongst the topics he had in mind.

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  • Another puff piece from Tom. Who is paying you Tom?

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  • reticent – good point. Quote from CML report for July – “The remortgaging sector was credited with propping up the purchase market as both lending to first-time buyers and homemovers suffered dramatically”. As you point out, there’s no such breakdown in the torygraph report.

    “Buyers’ strike”. Or, as the CML puts it “affordability constraints”.

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  • The advertising thing was mainly about HSBC. The paper would not criticise the bank’s dodgy Swiss accounts because of the advertising income. Private Eye reports on this quite often. It is a rubbish paper these days.

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