Thursday, June 30, 2011
Housing flat, credit conditions flat
Posted by David Smith at 10:15 AM
Category: Thoughts and responses

There will be no revival in the availability of credit to households or businesses in the next three months, apart from unsecured credit, according to the Bank of England's latest credit conditions survey, here. It says:

"The availability of secured credit to households was reported to have been broadly unchanged in the three months to early June 2011. Lenders expected availability to remain flat in the next three months.

"Lenders reported that the availability of unsecured credit to households was little changed in 2011 Q2. Availability was expected to increase in Q3.

"The availability of credit to corporates of all sizes was reported to have been broadly unchanged in 2011 Q2. And availability was expected to remain broadly unchanged in Q3."

The Nationwide said house prices in June were flat compared with May and down a modest 1.1% on a year earlier. Not much change there either.