Monthly mortgage figures published by The Council of Mortgage Lenders. The CML reports that in July 2011 gross mortgage lending was an estimated £12.6bn. This is just under June’s figure of £12.68bn and a 6% reduction on the July 2011 figure of £13.3bn.
CML Chief Economist Bob Pannell commented:
“UK economic prospects have deteriorated as a result of weaknesses in some of the major economies and renewed stresses in the Eurozone area associated with the sustainability of government finances. Housing market conditions remain subdued but pretty stable. Seasonal factors continue to provide some support but underlying house purchase activity may drift lower over the coming months”.
There still seem to be plenty of people looking to rent properties- how do you feel the buy to let market is performing in your area?