The level of homebuyer
Data from the Building Societies Association (BSA) showed that the total value of
However, gross lending during this period was slightly up, from £1.605 billion to £1.666 billion.
BSA director general Adrian Coles observed that “modest improvements in the housing market have occurred in recent months, especially when compared to the start of the year”.
However, he added, there will need to be a substantial increase in both the supply of finance and the number of houses on the market to enable the level of lending to go on rising.
The BSA figures come a week after the British Bankers’ Association unveiled its figures for October.
During the month, the level of lending increased by £3.1 billion, the same amount as in September but up on the six-monthly average of £2.7 billion.