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

Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 24/10/24

The average 5-year fixed mortgage rate is now 4.64%, down from 5.39% a year ago The average 2-year fixed mortgage rate is now 4.94%, down from 5.85% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.65%, down from 5.47% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 4.95% a year ago The average monthly mortgage payment on a…
Read More →
Software & Tech

The Future of Online Privacy: Challenges and Solutions

Online privacy has become a critical issue in today’s digital environment. With the speed at which technology is developing for everyday tasks, safeguarding personal data is becoming increasingly difficult. This article explores how online privacy is changing, what challenges we face, and possible solutions that might lead to a more secure digital future. The Growing…
Read More →
Home and Living

Alpine Makeover: How Are Mountain Homes Blending Tradition and Innovation?

Mountain-style homes, nestled amidst breathtaking landscapes, offer a perfect blend of architecture and nature. From the charm of old-world designs to modern, contemporary structures, they create a unique connection to their surroundings. But what makes these homes so timeless yet so versatile? Rustic Roots, Modern Touch At the heart of alpine architecture lies the nostalgic…
Read More →
US Flag
Overseas Property

The New Jersey areas with the least Airbnb’s REVEALED

Peterson has the least Airbnb’s in New Jersey, with 0.38 per 1,000 people Wildwood is at the top of the ranking, with 368 Airbnb’s in the area, translating to 54.28 per 1,000 people The study uses data from Airbnb.com to identify the number of listings in each area, as well as the average price per night A…
Read More →
Breaking News

Highest Q3 Sales revenue since 2015 and third consecutive quarter of revenue growth in 2024- Foxtons Q3 results

Third consecutive quarter of growth in 2024, with Q3 revenue up 8% to £47.4m (Q3 2023: £43.9m) and 30 September 2024 YTD revenue up 10% to £125.9m (30 September 2023 YTD: £114.8m) Q3 growth was driven by Sales, Sales revenue up 36% to £13.5m (Q3 2023: £9.9m), and underpinned by resilient Lettings revenue which was…
Read More →
Breaking News

Zoopla reveals the top ten most common street names in the UK

Zoopla, one of the UK’s leading property websites, reveals the top ten most common street names across the UK. Zoopla’s analysis of ordnance survey data finds that High Street is the most common name for a street(2086), followed by  Station Road (1939) and Church Street (1408). High Street (2086 in the UK) is the most…
Read More →