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May 2007

UK mortgage approvals weaken – but outlook for UK housing market is still rosy

Last week it was announced that the number of new UK mortgage approvals fell to 113k, resulting in much media speculation that the UK housing market is in danger of collapsing. I strongly disagree with this view and expect the UK housing market to remain buoyant over at least the next half year.

The image here (click to enlarge) shows the close correlation between mortgage approvals and UK hous…

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