The British Bankers' Association announced that 36,997 mortgages for house purchases in the UK were approved in August (-2% compared with previous month, -21% compared with 2015). During the previous six months (February to July) an average of 41,448 mortgages were approved. That makes the August figure 11% below the average. A total of 332,023 mortgages were approved during January - August (-1% compared with 2015). In the chart below we see that the trend for approved mortgages is decreasing in 2016. (Seasonally adjusted figures.)
The average house sales price in August was £176,000, which represents a decrease by 0.8% compared with July (£177,400).
The statistics refer to purchases of houses, not mortgage refinancing.
Members of the British Bankers’ Association account for about 2/3 of all approved mortgages.
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