Housing market activity has built up modest momentum since the start of the year says UK Finance

October 25, 2017
what is happening to house prices

UK Finance today updates on lending for September 2017.

UK Finance estimates gross mortgage lending in September to be £21.4 billion, 5% higher than a year ago. Nearly two-thirds of this lending, or £13.7 billion, was carried out by High Street Banks.

Commenting on the data, UK Finance’s Senior Economist Mohammad Jamei said:

“As we near the end of 2017, our data is showing that housing market activity has built up modest momentum since the start of the year, helped by an increase in first-time buyer numbers.

Rising inflation continues to put pressure on household budgets which is impacting consumer spending. Consumer credit growth has edged up a little compared to last month, but is in line with annual growth rates over the last year.

Businesses remain cautious about the future amidst an uncertain economic environment, reflected by their growing deposit activity and a dip in their borrowing growth rate.”

Read the UK Finance update October 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Industry reacts as Landlords to be hit with N.I tax

The Government is considering a major change to the way landlords are taxed, with Chancellor Rachel Reeves weighing up plans to apply National Insurance (NI) contributions to rental income as part of her upcoming Autumn Budget. Currently, rental income is subject to income tax but not NI. However, by expanding NI to cover this additional…
Read More →
Overseas Property

Brits Are Flocking to Australia in 2025 

The end of summer is always a busy time for international moves, and 2025 is no exception. So far this year, the number of people planning to move abroad has risen by 11% compared to the first half of 2024, according to Compare My Move.  What’s changed is where Brits are choosing to go. Australia…
Read More →
Breaking News

UK reports rising property market momentum

eXp UK reports rising property market momentum as sellers return and more sales are agreed The latest internal data from eXp UK has revealed that housing market momentum is continuing to build, with more homes coming to market and a greater number of sales being agreed. eXp UK analysis is based on the firm’s own…
Read More →
Breaking News

Homes priced too high take twice as long to sell warns Zoopla

House price growth stabilises over summer months House price growth has slowed over recent months, although this slowdown looks to have stabilised with average house prices 1.3 per cent higher than a year ago Sales agreed are up five per cent on last year, although speculation on possible  tax changes may impact homes valued at…
Read More →
Estate Agent Talk

Why September is the Most Expensive Month for Your Boiler

As households prepare to switch their boilers back on after summer, heating engineers are warning that September is often the most expensive month of the year for boiler breakdowns, repairs, and inefficiency. Rob Jones, heating engineer at UK Radiators, explains: “After months of being idle, boilers are suddenly put under pressure when temperatures drop in…
Read More →
Estate Agent Talk

What AI Can and Can’t Fix in Block Management

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG In an industry increasingly shaped by regulation, rising expectations and squeezed margins, the promise of AI and automation in block management is understandably appealing. The idea of freeing property managers from repetitive tasks, improving compliance, and streamlining communication offers significant operational value.…
Read More →