Housing and mortgage forecasts
Our forecasts are summarised below. You can read the full forecasts in Market commentary.
Last revised December 2011
| 2008 | 2009 | 2010 | 2011 estimate | 2012 central forecast | |
|---|---|---|---|---|---|
| Residential property transactions, UK, 000s | 901 | 859 | 886 | 852 | 825 |
| Gross advances, £bn | 254 | 143 | 136 | 138 | 133 |
| Net advances, £bn | 41 | 12 | 8 | 9 | 5 |
| Arrears, 2.5% or more of outstanding balance at end period: | |||||
| Number | 182,600 | 196,000 | 170,000 | 166,000 | 180,000 |
| Possessions in period: | |||||
| Number | 40,000 | 47,900 | 36,300 | 37,000 | 45,000 |
Source: Bank of England, National Statistics, HM Revenue and Customs, CML
Notes:
1. Transactions are based on Her Majesty's Revenue and Customs' series for UK residential transactions valued at £40,000 or over. These include cash-based sales that have comprised roughly a third of transactions in recent years.
2. Figures for arrears and possessions relate only to first charge mortgages.
