Mortgage Approvals

Bank of England: Mortgage Approvals Slightly Increase in March

The latest data shows a marginal recovery in mortgage demand, with the highest seen since the mini-budget in September 2022.


Mortgage Approvals Rise 20% Year-on-Year in March

There were 61,325 mortgage approvals for house purchase in March 2024, according to the latest data from the Bank of England. This was a 20% rise year-on-year, and 1% up from February.

This latest data shows that mortgage demand continues to recover. Mortgage approvals in March were also the highest since the mini-budget in September 2022. Given the consistent rise in approvals, we expect sales volumes to continue increasing in the coming months.

You can read more about our outlook for mortgage rates and the impact on mortgage approvals in our latest article here.

Mortgage approvals for house purchase to individuals (seasonally adjusted), United Kingdom


Disclaimer: CBRE's Residential Rapid Response provides timely analysis and commentary of the latest residential market data releases.

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