Housing and mortgage forecasts

Our forecasts are summarised below. The complete forecast can be found on our market commentary page.

Last revised June 2009

 

2006

2007

2008e

2009f

Residential property transactions, UK, millions  

1.685

1.627

0.9

0.7

Gross advances, £bn

345

364

261

145
(145) 

Net lending, £bn

110

108

40

-5 

Arrears, over 3 months at end period

 

 

 

 

Number

113,000

127,800

182,600

360,000

% of all mortgages

0.96

1.08

1.57

3.24

Possessions in period:

 

 

 

 

Number

21,000

25,900

40,000

65,000 
(75,000)

% of all mortgages

0.18

0.22

0.34

0.54

Source: Bank of England, National Statistics, HM Revenue and Customs, CML

Notes:     1.  The HMRC series relates to residential transactions over £40k.  It is a new series which started in April 2005.   
2.  Figures for arrears and possessions relate only to first charge mortgages held by lenders who are members of the CML. They do not include arrears and possessions relating to other secured lending or to firms that are not CML members.     
3.  May 2008 forecasts, where comparable, shown in brackets.
e - estimated  f - forecast

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