1 minute readUK mortgage approvals gained in March as the effect of the worst cold snap in three decades and higher taxes on property sales faded. The number of loans for house purchase granted rose to 52,000 from a nine-month low of 48,000 in February, according to a sample from the Bank of England’s panel of lenders released in London today. Prime Minister Gordon Brown, who’s fighting an election campaign ahead of a May 6 poll, said yesterday the housing market is set to “stabilize” as demand from first-time buyers picks up. Central bank policy makers unanimously kept their £200bn ($309bn) bond-purchase plan on hold this month as they assessed the strength of the economic recovery.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio