25th November 2014

October 2014 figures for the high street banks

Richard Woolhouse, Chief Economist at the BBA, said:

“Today’s figures suggest that the cooling of the property market has continued in recent weeks. Approvals were 16% lower in October than in the same month last year – the corresponding figure for September was a 10% decline.

“Despite softening in the housing market, consumers continue to show confidence in the economy with unsecured borrowing at its highest growth rate in years.

“At the same time we all continue to make the most of new ISA rules, stashing more in our savings accounts over the course of the last year.”

stats25nov14

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