CML ‘More Positive’ about housing market

The Council of Mortgage Lenders (CML) this week announced its Gross Lending figures and have the gross lending in December as £11.7 billion.

Key Facts:

  • Gross lending for the whole year of 2012 was a total of £143 billion
  • This is an increase of £2 billion against the total for 2011.
  • CML forecasts that in 2013 gross lending will reach £156 billion.

Commenting on market conditions in this month’s Market Commentary, CML chief economist Bob Pannell observes:

“We are more positive about the UK housing market and wider economy than a year ago, despite economic headwinds and downside risks.

“A key reason is that lenders currently face few funding pressures, in part reflecting the funding for lending scheme.

“House purchase activity was robust in the fourth quarter, on the back of better mortgage availability and pricing, and we expect this to continue over the coming months.”

Alec Hanson

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