Wednesday, May 23, 2007

Another Portent of Doom?

Following on from news that Foxtons is up for sale, there are further rather worrying straws in the wind for property owners in the UK.

Demand for mortgages in the UK slowed down in April, as rising house prices and borrowing costs began to take their effects on the market.

The British Bankers' Association said that net mortgage lending rose by an underlying £5.0BN in April, less than the previous month's £5.1BN and below the £5.4BN monthly average over the previous half year.

Whilst this may not signal a crash of epic proportions, it may well signal a market "correction". However, one man's "correction" is another's "crash".

No comments:

Post a Comment