Latest data released by UK Finance - 26 November 2019
- Prior 42.3k; revised to 42.2k
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 headline figure eases a little but consumer credit growth is seen improving to 4.5% y/y in October from 4.4% previously.
The jump in consumer credit growth sees it rise to the highest level since February 2018 and will provide some encouragement that credit conditions are improving after a noticeable slump over the past two years.
That said, it will require more consistency to say for sure that the UK economy will be on track towards firing on all cylinders again - especially when there is still the issue of Brexit yet to be resolved once the election is out of the way.
