Bridging sector returns to growth in Q1 2017
Bridging loans

Bridging sector returns to growth in Q1 2017

The latest West One Bridging Index has revealed that the sector has returned to growth in Q1 2017 following a period of post-Brexit uncertainty.

In Q1 of this year, gross annual lending rose 2.8% to £4.2bn and the market is expected to experience steady growth throughout 2017. 

Elsewhere, gross annual bridging lending increased to £4.2bn in April as the sector recovered from the post-Brexit fallout which resulted in falls in the second half of 2016.

There was a substantial decline in lending in Q3 2016 leading to total annualised lending dropping towards the end of the year

However, a significant rebound in Q4 saw the market return to growth at the start of 2017.

Stephen Wasserman, managing director of West One Loans, said: “We’ve seen a rise in bridging loan volumes as investors turn to alternative finance.

“The increase among smaller investors fits with the overall picture of residential market growth despite a jitter at the higher end of the market.

“The drop which followed the shock referendum result last summer was quickly recovered and this gives us confidence as an increasing number of commentators moot a slowdown in the housing market.

“Indeed, we continue to predict that the bridging market will go from strength to strength.”

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