The latest figures released by the Bank of England on mortgage approvals show there were some 70.89k approvals in January.
This is the highest number of monthly mortgage approvals since March 2016.
Director of Benham and Reeves, Marc von Grundherr, commented:
“The highest rate of mortgage approvals in almost three years and particularly so early in the year is yet further proof, if it were ever needed, that buyers are returning in their droves following December’s election result.
It is this huge influx of demand that has seen prices increase at such notable rates of late and as a result, the market is now in the best shape it’s been since the EU Referendum itself.
Not only are seeing performance exceed expectations but there is a very real chance of an interest rate cut on the horizon, which will further boost buyer sentiment, borrowing, and overall market performance.”
