December’s household borrowing figures showed that demand has continued to return to the housing market, following a lull around the referendum, but that consumer credit growth slowed for the first time in six months. Admittedly, the rise in new mortgage approvals from 67,461 in November to 67,898 in December was less than the consensus expectation of an increase to 69,000. But the result took the level of approvals back towards the 68,700 average from the six months before the Brexit vote.
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