Mortgage approvals return to 'normal' levels

Posted on Friday, December 10, 2021

  • October saw mortgage approvals return to more 'normal' levels.
  • The Bank of England report 67,199 mortgages were approved in October, just above the long-term monthly average of 66,462 (based on 2015–2019).
  • The property market is predicted to return to calmer market conditions during the first quarter of 2022. The volume of new supply to the market is expected to rise.
  • Rising inflation and the probability of a rise in the base rate of interest looks set to impact on buyer affordability in 2022 and beyond. Source: Dataloft, Bank of England