The mortgage market in the United Kingdom (UK) has been on an upward trend since 2012, with the value of gross mortgage lending to individuals growing year-on-year. Due to the coronavirus (COVID-19) pandemic, 2020 was the first year with a decline in mortgage lending since the beginning of this trend. With the gradual easing of the restrictions, the value of mortgage lending surged to almost 316 billion British pounds in 2021, up from about 249 billion British pounds in 2020. Besides the release of pent up demand, the spike was also due to the rapid increase of property prices.
Total value of gross mortgage lending in the United Kingdom (UK) from 2007 to 2022
(in billion GBP)
Characteristic
Mortages value in billion GBP
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Statista. (May 15, 2023). Total value of gross mortgage lending in the United Kingdom (UK) from 2007 to 2022 (in billion GBP) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/428498/gross-mortgage-lending-united-kingdom/
Statista. "Total value of gross mortgage lending in the United Kingdom (UK) from 2007 to 2022 (in billion GBP)." Chart. May 15, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/428498/gross-mortgage-lending-united-kingdom/
Statista. (2023). Total value of gross mortgage lending in the United Kingdom (UK) from 2007 to 2022 (in billion GBP). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/428498/gross-mortgage-lending-united-kingdom/
Statista. "Total Value of Gross Mortgage Lending in The United Kingdom (Uk) from 2007 to 2022 (in Billion Gbp)." Statista, Statista Inc., 15 May 2023, https://www.statista.com/statistics/428498/gross-mortgage-lending-united-kingdom/
Statista, Total value of gross mortgage lending in the United Kingdom (UK) from 2007 to 2022 (in billion GBP) Statista, https://www.statista.com/statistics/428498/gross-mortgage-lending-united-kingdom/ (last visited July 22, 2024)
Total value of gross mortgage lending in the United Kingdom (UK) from 2007 to 2022 (in billion GBP) [Graph], Statista, May 15, 2023. [Online]. Available: https://www.statista.com/statistics/428498/gross-mortgage-lending-united-kingdom/