Blog Post

Market outlook: Mortgage approvals improving

TomS - Head Tom Simper Apr 5, 2024, 13:00 PM

February 2024 mortgage approvals levels were 40% above their level in February 2023.

A year ago mortgage approvals hit their lowest levels (39,900) since the Global Financial Crisis (with the exception of Covid). Latest data shows that has recovered to 60,400, in line with the long-term monthly average.

Mortgage approvals are a good leading indicator for market activity. Further sustained improvement should feed through to transaction activity.

Affordability still needs to rebalance further for a more widespread recovery in the market but recent market signals continue to support a tentative recovery. Source: #Dataloft, Bank of England. Note: Long-term average is for the 10 years to 2019 (pre Covid)

Leave a comment
Newest on top Oldest on top
Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Abbey was lovely, really helpful and informative, thank you!"

- Lisa

"Gill and Abbey were quick and efficient to get my place sorted"

- Charlene

"Sean is lovely every time he comes round to do an inspection on the house, really polite"

- Charlotte

"Abbey was very nice and explanatory in all she was saying and Gill is quick to respond"

- Tope

"Great experience with Peter Anthony! Yaseen Hassan was professional, responsive, and incredibly helpful"

- Samuel Benedict

"Went above and beyond helping us secure a home, truly kind people"

- Anya

"Any issues Peter Anthony have been spot on and Sean as been professional and helpful at all times"

- Ian

"We are both so happy with the agents"

- Megan