Only 27968 mortgages approved for house purchase in May 2008 compared to 77443 in May 2007.
Mortgage lending for home purchase is now down a whopping 64% on the year.
http://www.bba.org.uk/content/1/c6/01/41/36/stats240608.pdf
This indicates further significant falls for house prices over the coming months.
Does beg the question - who are these 27968 that are buying at the moment?
Tuesday 24 June 2008
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