INTRODUCTION
The last few years have seen record levels of activity in the housing market. Now, however, there is growing recognition that buoyancy will not
continue and instead the outlook for the rest of 2003 and beyond is less positive. This report considers a range of indicators of the future direction
of the housing market and concludes with Datamonitor's forecasts of mortgage market gross advances.
SCOPE OF THE REPORT
- Data on a wide range of mortgage market dynamics
- Coverage of the UK mortgage market over the last twenty years
- Interviews with leading mortgage industry executives
- Forecasts of mortgage market gross advances to 2007 under two scenarios
REPORT HIGHLIHGTS
Separating loans for house purchase from loans for remortgaging reveals that the latter continues to drive the market as demand for the former
slows down significantly. Consequently, since January 2003 gross advances on loans for re-mortgaging have actually been higher than gross advances on
loans for house purchase
In recent years there has been such desperation to get on to the property ladder that many homebuyers will have no doubt
purchased properties that are significantly overvalued. As confidence evaporates and a belief sets in that prices are going to fall further, there
will be no such rush to purchase these overvalued properties
If interest rates remain low, as they are predicted to do, there is little to suggest
that affordability constraints will become more pressing in the near future
KEY REASONS TO BUY THIS REPORT
- Gain insight into Datamonitor's opinion on the future direction of the mortgage market
- Learn about how the drivers of the mortgage market over the next five years will differ from those in previous years
- Determine how changing macroeconomic conditions will impact on gross advances in the mortgage market
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