Search
 

Property Lending Soars

LONDON-Bank lending to property companies is rising at a faster rate than ever before, according to the latest figures from the Bank of England.

By Graham Parker | Updated on May 18, 2001

LONDON-Bank lending to property companies is rising at a faster rate than ever before, according to the latest figures from the Bank of England. As at 31 March 2001 banks had a total of £60.8 billion ($87 billion) of property loans outstanding.

The number is up by £3.6 billion ($5.15 billion) since the beginning of the year, and up £13.6 billion ($19.4 billion) over the previous 12 months. This is the highest annual growth ever recorded, comfortably outstripping the previous high of £10.7 billion in the 12 months to September 1989, at the very peak of the last development boom.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.