28.07.201414:20:00UTC+00Uk Housing Market Activity Has Probably Begun to Pick up Again

Quotes from Capital Economics:

- June's household borrowing figures (09.30 BST) will probably show that housing market activity has begun to pick up again, after a weak start to the year. 

- Whilst the official measure of mortgage approvals registered a fall last month, the BBA's timelier measure of mortgage approvals for new house purchases rose from 41,881 in May to 43,265 in June. This was the second consecutive rise in approvals on the BBA measure, following three months of decline, suggesting that disruptions surrounding the Mortgage Market Review in April are starting to fade. 

- Accordingly, we forecast a strong rise to around 65,000 in June. Meanwhile, we expect consumer credit (also 09.30 BST) to only edge up in June, consistent with fairly subdued data from the BBA.