Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
BBC News:

The number of mortgages approved for house purchases hit a new low in April, Bank of England figures show.

At just 45,166, the number of new approvals was the lowest April figure since the Bank's records began in 1992.

Analysts said the data may have been affected by the number of public holidays in April.

However, the figures suggest that the UK property market will remain subdued in the coming months, with a low level of sales and falling prices.

The number of approvals was 4% lower than in March and 9% down on April last year.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Jun 1st, 2011 at 10:17:59 AM EST
[ Parent ]
9% down on last year when sales were terrible, that can't be good.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Wed Jun 1st, 2011 at 11:21:40 AM EST
[ Parent ]
Depends on your definition of "good."

A housing market where an entry-level mortgage is 5+ times median income is not my definition of "good." There are only two ways in which that can change: Higher incomes or lower prices. And higher incomes would take time, even if the British government had the inclination or the economic expertise to make them happen.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jun 1st, 2011 at 11:54:47 AM EST
[ Parent ]

Display:

Top Diaries

The UK Left and Brexit

by car05 - Aug 27
1 comment

Brutish, Nasty, Prolonged

by john_evans - Aug 18
25 comments

Periphery, migration & decline

by Metatone - Aug 14
24 comments

1930s in social media

by DoDo - Aug 11
91 comments

It's "Whose Economy, Stupid?"

by Helen - Aug 3
29 comments

Recent Diaries

Occasional Series