High street banking – September 2014

A less buoyant housing market is no bad thing

Richard Woolhouse, chief economist at the BBA, said: “A year ago there were many of us who were concerned by the heady pace of property price rises.

“Today’s figures suggest we are now experiencing a steadier housing market and that’s no

bad thing.

“There’s also some encouraging growth in business lending amongst manufacturers and retailers which is pleasing to see.”

Key points:

– The housing market continues to cool, with approvals for house purchase in September 10% lower than a year ago

– Approvals for re-mortgaging and equity release have also fallen

– Business borrowing by manufacturers, retailers and in the wholesale sector is growing

See the full BBA report here