Buyer inquiries 'do not match' mortgage approvals...

02 February 2009

2316 Reads
4 Comments

Written by Rosalind Renshaw

House prices have gone down 16.6% year on year, to reach an average of £150,501, according to the latest report from Nationwide.

The lender said there were increasing numbers of buyer inquiries, but these had not translated into mortgage approvals.

“The relationship between buyer inquiries and approvals has broken down,” said Nationwide’s senior economist, Martin Gahbauer.

He warned that the Bank of England’s interest rate cuts could take up to two years before their effects were felt.

Comments

- Jim
Is this the nationwide's economist critising his own company?
- 02 February 2009 14:44 PM
- Richard
We'll if they would lend the money ......uggghhhhh
- 02 February 2009 13:49 PM
- Sir Bashus Moore
Surely you mean mortgage approvals?
Sad when mis-spollings git overywear
- 02 February 2009 12:58 PM
- Amyh
This is sadly true. The 'huge pick up' in buyer registrations and viewings that every delusional estate agents are reporting is akin to drivers slowing down past a bad traffic accident - everyone is curious to survey the wreckage but no one actually wants to get involved.
- 02 February 2009 12:53 PM