GDP reaction from Phoebus

11 September 2026

Richard Pike, sales and marketing director at Phoebus:

“Today’s GDP figures show the economy has grown for a second consecutive month, with output increasing by 0.4%. While two months of growth is a positive sign, the wider picture remains one of continued uncertainty.

“The mortgage market is still operating against a backdrop of affordability pressures, so a return to growth should not be mistaken for a return to normality. Lenders will need to remain responsive as different groups of borrowers experience very different financial situations and circumstances.

“The real test now is whether this growth can be sustained. A stronger and more stable economy would give borrowers, lenders and the wider property market greater certainty, but the focus will remain on whether today’s figures mark the beginning of a more consistent recovery rather than another short-lived improvement.”