The number of mortgage approvals in the UK in October 67,520 against 63,590 in September
The number of mortgage approvals in the UK in October reached a 7-month high, a sign of further strengthening of the housing market after the fall associated with the referendum. This is evidenced by the data presented on Tuesday by the Bank of England.
According to these data, the number of mortgage approvals in October amounted to 67,518 against 63,594 in September, well above the 6-month average, was 63 914. After the referendum, the UK out of the EU, which took place on June 23, the number of mortgage approvals in the August reached 2-year low.
"Given the recovery of activity in the housing market since the recent lows and the current stability of the economy, housing prices in the near future is likely to rise slightly", - said Howard Archer of IHS Global Insight.
According to the released data last week, the UK's GDP growth in the 3rd quarter at an annual rate of 2%, which significantly exceeds the forecasts of many analysts.
In August, the Bank of England lowered its key interest rate in the framework of large-scale incentive programs designed to protect the economy from any potential shocks related to Brexit. One of the aims of the central bank is to ensure the availability of loans to households and companies.
According to the presented data on Tuesday, net consumer lending in the UK in October amounted to 4.9 billion pounds (6.08 billion US dollars), which is slightly more than in the previous month. Net lending to non-financial corporations in October was 3.2 billion pounds, more than three times more than in September, and almost three times the average for the previous six months.
In addition, presented on Monday, data showed that the UK government bonds continue to attract foreign buyers, despite the uncertainty surrounding Brexit. Net purchases of British government bonds by foreign investors in October totaled 10.5 billion pounds against 13.3 billion pounds in the previous month.
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