Commenting on the figures, Adrian Coles, director general of the Building Societies Association (BSA) said: "The depressed housing market is seeing mortgage lending by building societies remaining low. With recent figures from the Land Registry suggesting that property prices continued to fall in November and with concerns over job security high, it is no surprise that buyers are keeping out of the market. However it is encouraging to note that after the negative net advances figures in the summer the last three months have seen positive figures which suggests perhaps that the market is not deteriorating even further."

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