Lending to UK commercial property (Jul. 25)

Net lending to property was strong again in July, reaching £1.8bn. While this was a slightly lower outturn than June, it nevertheless drove an acceleration in the three-month total, which hit £6.0bn. July’s gain was dominated by lending secured against standing investments, which totalled £1.7bn, extending its recent strength. Conversely, net development lending was low at less than £0.1bn, bringing its three-month total down to its lowest since March.