Highest number of house purchase approvals in 18 months

by Aaron Strutt

Jul 08 2015

House purchase approvals rallied in June, with strong improvements on both a monthly and annual basis as political uncertainty subsided, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor.

There were 72,712 house purchase approvals in June, up 12.8% on the 64,434 recorded in May, making June the strongest month for house purchase loans since January 2014.

The monthly increase – as confidence returned to the market following a period of political uncertainty – is the largest month-on-month improvement since February 2009.

Richard Sexton, director of e.surv chartered surveyors, comments: “This is the summer comeback we’ve been waiting for as potential borrowers clearly paused their actions while the election came and went. But now borrowers are back in the market for mortgages and demand is stronger than ever.”