Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
UK Mortgage Approvals Drop to 56,100 in July
UK mortgage approvals for house purchases declined to 56,100 in July, according to Bank of England data reported by PropertyWire. This figure is down from 58,200 in June.
The report notes that this represents a 3.7% monthly decrease and a 15% year-on-year fall. Mortgage approvals in July also sit 7.3% below the five-year average.
Letting agents and inventory clerks may wish to note these trends as they could impact demand in the UK property market.
Source: PropertyWire