Fears of a hous­ing boom mis­placed

Yorkshire Post - Property - - PROPERTY -

GROSS mort­gage lend­ing held steady in Au­gust, ac­cord­ing to the Coun­cil of Mort­gage Lenders.

CML chief econ­o­mist Bob Pan­nell says: “We are be­gin­ning to ex­pe­ri­ence a healthy and broad-based re­cov­ery in mort­gage lend­ing ac­tiv­ity. We at­tribute much of this turn­around to the im­prove­ment in fund­ing mar­kets gen­er­ally, and also to the Fund­ing for Lend­ing Scheme. The Bank of Eng­land’s ap­provals data sug­gests that the pos­i­tive tone for house pur­chase and re­mort­gage lend­ing will con­tinue.

“One tell-tale sign of a re­cov­er­ing hous­ing mar­ket is the re-emer­gence of con­cerns about a hous­ing boom. But the hous­ing mar­ket re­cov­ery to date ap­pears fairly un­ex­cep­tional in na­ture.”

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