Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 13 November 2015

UK buy-to-let lending rips

Record UK employment

The UK labour market now appears to be on cruise control as total employment rose by +177,000 from three months earlier to a record high of 31.21 million, an increase of +419,000 over the past year.

Lowest unemployment since 2008

The employment rate increased to its highest level since records began in 1971 at 73.7 per cent.

Meanwhile the UK unemployment rate has tumbled from 8.4 per cent in November 2011 to just 5.3 per cent, the lowest rate of unemployment since April 2008.

Buy-to-let rips

The Council of Mortgage Lenders reported that mortgage volumes ripped in Q3, with buy-to-let volumes booming by 40 per cent year-on-year to their highest level since 2007, with loans written increasing by a third since September 2014.

Overall, it would be fair to say that labour and property market commentary has been an uncannily accurate contra-indicator over the past decade!