UK House Prices -The next bubble waiting to burst ??
Belize1970 - Thu, 29 Dec 05 :
Continued strength in mortgage lending in November
29/12/2005
Following last week's release of MBBG net lending figures for November, further information now available on lending to individuals shows that:
Gross mortgage lending was £18.0bn in November. This was among the highest on record and 23% higher than November 2004.
Seasonally adjusted net mortgage lending (gross lending minus repayments and redemptions) rose by £5.1bn, compared with £4.3bn in October and £4.1bn in November 2004. This was the strongest increase since July 2004 and compares with an average of £4.4bn over the previous six months.
There were 192,927 mortgage approvals (for all purposes) in November, with a total value of £19.1bn. The number of approvals was virtually the same as October 2005 but 22% higher than November 2004. The average approval for house purchase rose to £130,800.
Net lending on loans and overdrafts rose by £0.1bn (having risen by £0.5bn in October) well down on the average increase over the previous six months. Net lending on credit cards also rose by £0.1bn, in line with the average increase in the previous six months.
