Builders' Merchants News

Housing in the doldrums

Published:  30 June, 2009

LONDON: Figures from the Bank of England yesterday confirmed that the banks and building societies remain reluctant to lend to any but the most secure of businesses and home buyers. 

Mortgage approvals changed little during May, remaining at a little over 43 000, above the low of 27 000 last winter, but under half their normal level. Analysts at Capital Economics said the figures were "consistent with house prices falling at double-digit annual rates".