Introduction
While UK national mortgage markets are similar, there are important
differences among them. Such differences are crucial for lenders to assess
their own performances against as well as take advantages of future
opportunities. Indeed, the housing market, the extent to which the lack of
affordability is an issue, and competition among lenders all differ across
national mortgage markets.
Scope
- Discusses the key ways in which UK national markets differ, in terms of
competition, the housing market, and government initiatives, among others.
- Provides forecasts for each constituent country' s housing market up to
2011.
- Identifies the differences in competition between lenders in each national
market.
Report Highlights
The housing market performed far more strongly than anticipated in 2006. Yet
each national market performed differently; Northern Irish house prices
continue to catch up with the UK mainland and Scottish house prices continue
to perform strongly, while England and Wales are seeing comparatively slower
growth.
The lack of affordability has become one of the major overarching issues in
the UK mortgage market. Northern Ireland has now taken over England as the
country with the least affordable house prices, yet house prices have recently
become increasingly difficult to afford in Wales, while affordability remains
somewhat better in Scotland.
There are fewer active lenders in Northern Ireland compared to the other
national markets. This can partly be attributed to its small size, the
different conveyancing processes, and possibly the lack of familiarity with
them amongst lenders. However, the mortgage market in Northern Ireland is
becoming increasingly more competitive.
Reasons to Purchase
- Gain a thorough understanding of the dynamics affecting each constituent
country.
- Understand where the opportunities lie in regards to each national market.
- Incorporates primary interviews from industry experts and secondary data
from a wide range of sources.
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