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|Comment: Bank of England|
|Tuesday, 29 November 2016|
Regarding the latest Bank of England figures, Jonathan Sealey, CEO of Hope Capital says, “According to the National Association of Estate Agents, the number of first-time buyers purchasing homes in the UK reached a record high in October. It therefore comes as no surprise that the total lending to individuals increased and that the number of loan approvals for house purchase also saw an uplift.
“Although some businesses have remained cautious, consumer confidence and lender appetite has continued to grow post-Brexit, and indeed much quicker than first anticipated. It is also promising to see that the number of approvals for remortgaging increased and that confidence among second steppers is also on the rise.
“It will be interesting to see if the Chancellor’s Autumn Statement which reinstated the government’s commitment to housing through targeted and sustained investment is enough to tackle the housing crisis. However, this investment in housing is certainly a welcomed move as the industry continues to strive to provide more homes to meet the needs and aspirations of the growing population.”
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