Commenting on today’s Bank of England Money & Credit figures, John Phillips, national operations director, Just Mortgages said: “These figures – both the fresh data for September and the long-term trend – reinforce the impression that for the housing market the engine is ticking over but not really going anywhere.
“In two weeks’ time we’ll all be waking up to a new government. Whichever party – or parties – are in charge need to take action to get the market motoring.
“That includes getting some certainty over what’s happening with Brexit, but also real action to reform planning and taking a fresh look at the current high levels of Stamp Duty. This is causing real bottlenecks at the higher end of the market, but the impact goes much further and affects availability if suitable properties for families right across the value chain.”