27.11.2012 - UK housing market gets further evidence of an upturn
An unexpected rise in new mortgage approvals to a nine-month high in October gave further evidence on Friday of indications of an upturn in the UK housing market. The British Bankersí Association (BBA) reported that approvals were higher than expected at 33,039, as compared to 31,544 in September. Economists had predicted a smaller growth to 32,000. Gross mortgage loans amounted £7.5bn, slightly above the recent monthly average. Howard Archer, chief UK economist at IHS Global Insight, claims that the BBA data adds to other recent evidence that housing market activity is picking up modestly...............................................Full Article: Source
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