The housing market is down right ow. Mortgage approvals are at a low right now, the lowest they’ve been in nine months. This means fewer people are getting ouse loans right now. The houses they would normally by are staying empty. If you have income which depends on the housing market you should always watch it. It can affect the economy as well. The housing market can be a way to see how people are managing their money.
Key Takeaways:
- New mortgages have sunk to a recent low according to the market. The market in the UK is actually down 9% on the news.
- Bank of England property forecast is always a useful source. Investors look to the bank to accurately predict market realities.
- There were some unexpected movements in the market over the months. That could give investors more confidence in the choices they make.
“Put simply, house prices are making it extremely challenging for first time buyers to become home owners.”