Mortgage Approvals – Highest since February 2017 – Comment from GetAgent and Springbok Properties

May 29, 2019

Gross mortgage approval statistics announced just now show a significant spike.

Total approvals numbered 43,000, UP from 40,600 in the same month last year and a meaningful improvement on the forecast of 39,300 and the highest rate since February 2017.

Shepherd Ncube, Founder and CEO of Springbok Properties, a national estate agency business based in Manchester says:

‘Today’s mortgage approval numbers are welcome relief from the negativity and uncertainty that many property market commentators have portrayed since the early days of Brexit yet buyer confidence is shrugging off the political shenanigans that would otherwise seek to paralyse our economy and the housing market. House prices, especially in the north, are seeing no signs of relenting and mortgage approvals being so buoyant is bound to now factor in to higher prices in a few months time. Great news’

Colby Short, Founder of GetAgent, the estate agency comparison website, says:

‘UK estate agents will be breathing a sigh of relief this morning as these statistics demonstrate that the housing market is alive and well. Indeed, to see mortgage approvals at a 27 month high is frankly astonishing given the political environment over recent months. My prediction is that once the shackles of Brexit are eventually untangled, we are set for a very positive effect on house prices during 2020 and beyond. You can’t keep a UK house buyer down it seems’

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