Latest data released by UK Finance - 27 August 2019
- Prior 42.7k; revised to 42.8k
The data measures only a proportion of the demand in the UK housing market - those which are approved by High Street Banks in the UK. The overall report here is decent with mortgage approvals for home purchases rising to its highest since February 2017.
Adding to that, UK consumer credit is seen growing at 4.3% y/y in July relative to the 4.1% y/y in June. As such, the improvement there also indicates some resilience in credit conditions at least despite ongoing Brexit uncertainty.
Nonetheless, it doesn't take away from the fact that economic conditions remain suspect at best until the country manages to put behind the entire Brexit debacle at the moment.
