2 year high for Mortgage approvalsProperty Market
The Telegraph has reported that mortgage approvals have increased by almost a third in just one year. Mortgage approvals have increased sharply driven by first time buyers and low deposit borrowers. There has been a sharp rise in loans on properties valued at under £125,000.
It would appear that the backlog of first time buyers and now coming to the market.
It has also been reported by that house prices are increasing with Rightmove stating that the month on month increase of 4.1% was the highest recorded since 2002.
Rightmove have also recorded an increase in search activity on their website in January which they have stated could be pent up buyer demand.
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