But Howard Archer, chief UK and European economist at IHS Global Insight, warned: “This needs to be put into perspective because mortgage approvals remain very low compared to long-term norms.”
Meanwhile, separate data showed house prices rose this month – but by just £17 a day. According to the Nationwide building society, the average home is now worth £168,731, up 0.2% on June but down 0.4% on July last year.
Robert Gardner, the Nationwide’s chief economist, said: “Sluggish demand for homes combined with only a relatively gradual rise in the supply of available properties has helped to keep property prices relatively stable.”
Just over 200,000 properties changed hands between April and June – the lowest number since the second quarter of 2009.
No comments:
Post a Comment