Prop­erty mar­ket on ‘twin tracks’

Yorkshire Post - Property - - PROPERTY NEWS -

LEND­ING: The Coun­cil of Mort­gage Lenders es­ti­mates that gross mort­gage lend­ing reached £18.9 bil­lion in Jan­uary. This is six per cent lower than De­cem­ber’s lend­ing to­tal but two per cent higher than the £18.6 bil­lion lent in Jan­uary last year. CML econ­o­mist Mo­ham­mad Jamei says: “Over­all mort­gage lend­ing con­tin­ues to hold up but we seem to have a twin-track mar­ket. Weak­ness in buy-to­let and home movers has been off­set by an in­crease in first-time buy­ers and re­mort­gage lend­ing. A con­tin­u­ing acute short­age of homes for sale is one as­pect of a bro­ken hous­ing mar­ket, that looks un­likely to re­solve in the near term.”

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