CML predicts 5% growth but less borrowing

Statistics presented by the CML suggests gross lending will fall by around 7.5% in 2005 from £293bn this year to £271bn while net lending will fall 8% from £103bn to £94bn. While interest in the housing market and mortgage borrowing is expected to slow in the coming months, the CML goes even further to suggest there the market will slow well into 1007. “The likelihood is that the housing market is set for stable but slower levels of activity for some time, as the market adjusts from its recent exuberance,” says the CML’s senior economist Jennet Vass. "Although our forecasts herald a s...