High street banking – September 2014
A less buoyant housing market is no bad thing
Richard Woolhouse, chief economist at the BBA, said: “A year ago there were many of us who were concerned by the heady pace of property price rises.
“Today’s figures suggest we are now experiencing a steadier housing market and that’s no
bad thing.
“There’s also some encouraging growth in business lending amongst manufacturers and retailers which is pleasing to see.”
Key points:
– The housing market continues to cool, with approvals for house purchase in September 10% lower than a year ago
– Approvals for re-mortgaging and equity release have also fallen
– Business borrowing by manufacturers, retailers and in the wholesale sector is growing
See the full BBA report here