UK Finance Figures for March

16 May 2019

Richard Pike, Phoebus Software sales and marketing director, says “The picture presented by the figures from UK Finance this morning is one of continuing uncertainty.  When you consider that even the number of first-time buyers has fallen below the level a year earlier, it is clear that the view, presented in the Bank of England’s latest inflation report, that housing has stagnated since the referendum continues to be the case.  Although consumer confidence is on the rise as real wage growth is now keeping pace with inflation, the same cannot be said when it comes to larger purchases and commitments associated with housing.  It was interesting to note, again in the inflation report, that house price growth which is also predicted to fall over the next year, may be being affected not just by a lack of demand and but even a surfeit of supply in some areas. 

“In other years we might have expected our continued need for rental accommodation to keep the buy-to-let sector buoyant, but with changes to regulation and a reluctance by some to make any further investment until our future with the EU is more certain, this is definitely not the case.  The plain fact of the matter is that our market will continue to suffer until things are sorted with the EU.”

Media contact

Debbie Staveley
Director and Owner,
bClear Communications

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+44 (0)1275 542 511

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