Lending figures expected to be worse
Commenting, he said: “I’m actually quite surprised at how well the mortgage lending figures have stood up. With January heralding the end of the stamp duty holiday and weather conditions that Vancouver can only dream of at the moment we fully expected the figures to be even lower.
“As it stands, the market looks well placed for a pick up in lending over the next 2 or 3 months.
“Demand for new mortgages is increasing and new products are being introduced daily. It may be starting from a low base but expect to see some improvement in these figures as we move into spring.”