The UK housing market is consistently showing signs of recovery with gross mortgage lending totalling an estimated £12.5 billion in September, a 2% rise from the £12.3 billion in August but down 27% from September 2008, according to new data from the Council of Mortgage Lenders.
Gross lending in the third quarter of 2009 was an estimated £38.9 billion, an 18% increase from the second quarter and down 36% from the third quarter of last year.
Behind the modest improvement from August to September and the relative stability of recent months is the balance between the types of lending taking place – there has been a pick up in house purchase activity, but this is off-set by the decline in remortgaging.
POSTED BY 
