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The Money Statistics October 2017 PDF Print E-mail
Wednesday, 18 October 2017
Striking numbers  
5.9%: The savings ratio in Q2 2017
£369: The increasing in outstanding consumer credit in August 2017 per adult in the UK
35%: The percentage of households with no savings whatsoever
2.1%: The rise in house prices in the year to August, according to Nationwide
£121,678: The estimated average outstanding mortgage per household in August
£675: The average rent for a room in the 12 months to March 2017
£1,495: The average rent for a London room in the 12 months to March 2017
75,000: The reduction in unemployed people from July 2016 to July 2017
20%: The percentage of households who rent privately in 2015/16

Everyday in the UK
349 landlord possession claims and 274 landlord possession orders are made every day
The Government debt grew by £7.5m a day during August 2017 (£87 per second).
Borrowers would repay £136 million a day in interest over a year, based on August 2017 trends
Net lending to individuals in the UK increased by £129 million a day

Personal debt in the UK
People in the UK owed £1.554 trillion at the end of August 2017. This is up from £1.5 trillion at the end of July 2016 – an extra £1029.82 per UK adult.
Per adult in the UK that’s an average debt of £30,012 in August – around 114% of average earnings. This is slightly up from a revised £20,910 a month earlier
Outstanding consumer credit lending was £203.030 billion at the end of August 2017
Citizens Advice Bureaux across England and Wales dealt with 465,607 issues in August 2017
Debt was the second largest advice category (behind benefits and tax credits) with 119,221 issues. This is 1% down on the same month last year. Debt issues represented 26% of all problems dealt with over the period

Mortgages, rent and housing
The average mortgage interest rate was 2.53% at the end of August. Based on this, households with mortgages would pay an average of £3,078 in mortgage interest over the year
Halifax said that average house prices rose by £1,838 in September 2017. This is a monthly rise of 0.8%; prices rose by 1.4% over the quarter and rose by 4% over the year
According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in June was 17.5% (around £29,025) – 110% of an average salary

Savings and Pensions
9.45 million (35%) of households have no savings, while a further 2.97 million (11%) have under £1,500. 68% have less than £10,000 in savings.
The average interest rate for an instant access savings account – not including bonus interest payments – was 0.12% in August. For a cash ISA, this was 0.34%.

Spending and Loans
Data from LINK shows that, on average, 98 cash machine transactions (including balance enquiries and rejected transactions) were made every second in September 2017
The average APR for a £5,000 personal loan is 8.04%, according to the Bank of England. For a £10,000 loan it’s 7.91%, while the average rate for an overdraft is 19.72%
British Bankers Association figures show that 55.6% of credit card balances were bearing interest in July 2017

The bigger picture
The UK economy grew by 2.7% in the second quarter of 2017, according to latest estimates from the ONS
The number of people classed as unemployed between May to July was 1.455 million (4.5%), down by 75,000 from the previous three months and by 180,000 from a year earlier. This totals 493 less unemployed individuals a day.
111,000 people (1207 a day) reported they had become redundant over the three months, little changed from the previous quarter

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