The United Kingdom Housing Market is looking good with mortgage lending on the higher side. Approvals though went down periodically but were gradually rising by the annum. The BBA (British Bankers Association) said the exact rise was worth 4.3 billion in pound sterling as compared to 4.7 billion in September. The average growth has been a good 4.5 billion for the past half year. Approvals though went down by three percent. They went up by seven percent the same time last year.

The figures stand at almost 130,000 approvals with a monetary value of almost nineteen billion pounds. The same for house purchases though were they down to almost a hundred and twenty nine thousand five hundred pounds sterling. It was a good sign that just when the UK house market is about enter the yearly “down phase” it is showing signs of life. The figures for mortgage lending stood at 17.5 billion pounds in the month of October. Despite it having gone down since the previous month, it stood at second best since July ’04. It was sixteen percent higher that October though.

Unsecured lending on both loans and overdrafts together went up by 0.4 billion pounds having risen by a 0.3 billion the month before that. It kept up with the average rise per month for the last half-year. Borrowing on credit cards went up by 0.2 billion pounds sterling, double the rise in the past six months.