I was interested to read the thrilling news published by the Building Societies Association (BSA) that 42% of Britons see mortgage finance as a barrier to buying a house. Anothe case of G.O.B.O. – Glimpse of the Blindingly Obvious. Some of my friends who didn’t attend an approved school with me often say G.O.F.O. – I wil let you work that one out. What always intrigues me about these surveys is the ‘42% of Britons’. What Britons, where and were they even interested in buying a house? What I am interested in and is tangible, is the factual report by the Council of Mortgage Lenders saying that the start of this year saw mortgage approvals at their highest since 2008. That is fact and is measurable. It may not be the loftiest point at which to start, but it is movement in the right direction. Across the UK, house prices were up by 2.4% in England, but only 0.9% in Wales, evidence if ever it were needed that there is a huge gulf across geographical regions and a ‘national’ survey is anything but. It would make interesting reading to see the results of a survey of the nation’s homebuyers to see whether they thought the Council of Mortgage Lenders would be better off spending their time and resources ensuring that their members actually lent money to homebuyers as opposed to compiling surveys on ‘national’ (in)activity.
