Bank of England figures for July

September 2, 2015

Bank of England figures published yesterday showed that UK mortgage approvals rose in July to their highest level since February 2014, numbers were up by 16.4% to 68,764, this is in contrast to the number of mortgage approvals falling throughout 2014.

Mortgage approvals have risen in five of the past seven months, this trend is even more surprising following the tightening of rules on lending introduced last year, net mortgage lending surged by £2.709 billion in July, the biggest increase since July 2008.

The Bank of England figures add to the general consensus that the housing market is heating up again, even though there has been a pullback in prices in London the overall picture across the UK is rising property prices.

The outlook for interest rates is that an increase is still expected early next year.

The BOE said consumer credit grew by £1.173bn in July, down slightly from a £1.23bn rise in June, but it was up 7.5% on an annual basis.

 

 

 

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

Office space back in favour as return to workplace drives commercial demand

The latest research by BPS London has revealed that office space is currently the most in-demand commercial property asset across England, as the continued return to a physical workplace sees offices fall back in favour with British businesses. BPS London analysed investor demand across the commercial property market, assessing the proportion of available opportunities within…
Read More →
Breaking News

Breaking Property News 14/1/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Latest Weil European Distress Index (WEDI) points to a materially more fragile outlook  Europe’s corporate distress picture appeared to stabilise on the surface in Q4 2025, but the latest Weil European Distress Index (WEDI) points to a materially more fragile outlook moving into 2026.…
Read More →
Breaking News

Breaking Property News 15/1/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Pan-European €400m micro-living portfolio to be managed and digitised by Reos  Prop.com, a leading real estate investment manager focused on unlocking value for investors through digital technology, has launched a strategic partnership with property management and digitalisation specialist Reos GmbH to develop one of…
Read More →
Breaking News

South East sees most sellers relisting

New research from Property DriveBuy reveals that sellers who are re-entering the market are reducing their asking price by an average of £5,300 to try and snag a buyer, but in London this reduction climbs as high as £27,000, while the South East is the region where most sellers are relisting this year having failed…
Read More →
Rightmove logo
Breaking News

Average rents rise by 2% in 2025, predicted to rise by further 2% in 2026

The average advertised rent of homes outside of London fell in Q4 2025 by 1.1% (-£15), dropping to £1,370 per calendar month. It’s only the second time in five years that quarterly rents have fallen: Across the whole of 2025, average advertised rents rose by 2.2% compared to 2024 As the market settles into a…
Read More →
Breaking News

Landlord Demographics Remain Broadly Unchanged

Propertymark analyses the latest figures from the English Private Landlord Survey 2024, published alongside headline findings from the English Housing Survey 2024–25, showing that the profile of private landlords in England has remained remarkably consistent with previous surveys, even as landlords navigate ongoing tax changes and evolving standards and expectations. The data highlights that the…
Read More →