We understand from reports from the British Bankers Association Data that the number of new home loans are substantially up in November 2009. They have reached the levels of Autumn 2007, just after the peak of the housing market in terms of prices.
These figures are double those of the similar month in 2008 when the housing market was at a very low ebb.
Loans for equity withdrawal were notably lower as were remortgaging loans issued. The BBA said that “Household priorities were showing up in the November figures”, suggesting that households were paying off debt and saving more.
The way that this affects Individual locations within the wider market is varied and independent advice should be obtained with the housing market as with any market. Consult a local Independent Chartered Surveyor by sourcing a contact through the propertysurveying network.