The Independent Daily on their website today reported that further evidence of a slowdown in the housing market came yesterday as the Bank of England revealed figures showing that the number of mortgage approvals for home purchase fell from 108,000 in August to 102,000 in September, the lowest since July 2005. The Independent Daily on their website today reported that The number of approvals is down 20 per cent on the year.
The Independent Daily on their website today reported that The figures are much in line with last week’s data from the British Bankers’ Association showing a 27 per cent drop over 2006. However, as with the BBA data, house price inflation means that the value of approval is still rising. The Independent Daily on their website today reported that On this basis, net mortgage lending rose £9.8bn in September, the fastest growth since February.