Summary
FEARS that the housing market is set for a new slump strengthened yesterday after new figures showed a decline in both house prices and mortgage lending.
The Nationwide revealed that UK house prices fell by 0.5 per cent in July, after a static June and several months of slowing increases. And the Bank of England reported that the number of mortgages approved by UK banks fell in June to its second lowest level since May 2009.See the full content of this document
Extract
House Prices and Home Loans Falling
House prices are now just 6.6 per cent higher than a year ago, compared with 8.7 per cent in June and a peak 10.5 per cent in April, according to ...
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