The British Bankers Association has published its latest figures for November 2015 which would appear to show positive signs for 2016.
For the residential housing market:
Gross lending of £12.8 billion was 28% higher than the same period in 2014.
Mortgage approvals in November 2015 were 25% higher than the year before with house purchases by by 20%
Bank lending to companies also increased with a growth in lending to the manufacturing, wholesale and retail sectors in particular.
2016 has certainly started with a bang at Hedges; there’s no sign of the usual January lull and both the residential property and commercial teams have received an unprecedented number of instructions for this time of year. Long may in continue….. here’s to a buoyant 2016!
These statistics show the continued strength of the mortgage market, with monthly new lending higher than at any time over the past seven years.