New mortgage approvals rise 16% in April

There’s too much evidence of the recovery beginning to ignore now.  There may be some pain to come (mainly for investors that bought off plan properties in regional cities at inflated prices with low yields) in a few years time when interest rates go up but this will be outweighed by dramatically rising house prices (around the 2012 Olympics).  http://business.timesonline.co.uk/tol/business/economics/article6477172.ece (Ian King, The Times)

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