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English housing market grinds to a halt as buyers hold back

By Patrick following x   2018 Apr 17, 3:29pm 426 views   0 comments   watch   sfw   quote     share    


Britain’s housing market has got off to the worst start to a year since 2015 as buyers have slammed on the brakes, sending demand for mortgages through the floor and stunting prices.

In February 63,900 mortgages were given to home buyers, the Bank of England said, down steeply from 68,700 a year earlier.

Demand for loans fell at the steepest pace since the aftermath of the Brexit vote, with landlords and owner-occupiers cutting back.

The Bank’s index of demand fell to minus 29.3pc from a positive score of 8.3pc in the final three months of 2017, indicating the proportion of lenders that reported falling demand sharply outweighed those reporting an increase.
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