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Mortgage Lenders for third quarter 2023
The outstanding value of all residential mortgage loans decreased by 0.1 % from the previous quarter to £ 1,654.3 billion, and was 0.8 % lower than a year earlier.
The value of gross mortgage advances increased by 18.6 % from the previous quarter to £ 62.2 billion, but remained 27.6 % lower than a year earlier.
The value of new mortgage commitments decreased by 16.5 % from the previous quarter to £ 51.5 billion, and was 41.4 % lower than a year earlier.
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London House Price Index for August 2023
The average house price in London is £ 532,113, and the index stands at 132.1. Property prices have risen by 1.3 % compared to the previous month, and fallen by 2.0 % compared to the previous year.