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UK: House prices predicted to fall further amid drop in mortgage lending

Posted on 23 May 2011

The Council of Mortgage lenders said gross lending fell to £9.8 billion in April, down from £11.4 billion in March, and 5 per cent lower than a year ago. The bank holidays last month – including Easter and the Royal Wedding - saw many workers enjoy extended holidays in exchange for taking just a few days annual leave.
Bob Pannell, CML chief economist, said: “It represents an unfortunate temporary loss of signal, at a time when it would be useful to gauge the resilience of house purchase demand to economic uncertainties and the pressure on household incomes……………………………………….Full Article: Source


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