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Comment on May's CML gross mortgage lending figures

12th July 2010 | back to article listings BACK    print this article PRINT

Stuart Law, Chief Executive of Assetz, comments on the latest CML gross mortgage lending figures:

“The latest figures from the CML suggest that the property market continues to prosper, with house purchase lending increasing for the eleventh consecutive month and the cost of servicing a mortgage at its lowest for 35 years.

“Similarly, the latest Assetz House Price Watch, an amalgamation of the five major UK indices – CLG, Nationwide, Halifax, Acadametrics and Rightmove - reveals strong annual house price growth of 7.8% as well as stable growth over three and six months, rubbishing suggestions that the market is guaranteed to falter in the second half of this year.

“The period leading up to the election generated some uncertainty, taking the wind out of the housing market’s sails, but extrapolating this weakness for the next 18 months, as some commentators have done, is a little rash. The government’s austerity measures could help dampen house price growth next year, but continued low interest rates and a lack of supply in the property market, particularly the reduction in new build, are likely to continue to drive up prices modestly this side of Christmas and beyond. I still expect to see a modest 5% overall growth for 2010 as the positives continue to outweigh the negatives.”

-ENDS-

Notes to Editors

About Assetz plc

Assetz plc heads up a group of well-known and successful property investment and development companies, delivering carefully selected UK and overseas property as well as property funds, financial planning, education, finance and after-sales service. Assetz offers expertise and peace of mind whether a buyer is seeking an investment or a residential property.

Assetz: 0845 400 9000 or visit www.assetz.co.uk

For further information please contact:

Suman Hughes or Laura Scarrott, The Wriglesworth Consultancy:

020 7427 1400 s.hughes@wriglesworth.com l.scarrott@wriglesworth.com

Chief Executive’s Blog: http://investors.assetz.co.uk/blog/archives.php


This is a press release by Assetz also available at http://press.assetz.co.uk/articles/5218.html. Alternatively, please see our full press release archive.

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