Hopes of a revival for Britain’s battered housing market were raised today by data showing an 8 per cent rise in the number of mortgages approved for house purchases in April.
The Bank of England said that 43,201 mortgages were approved in April, up from 40,038 in March.
The figure was better than analysts’ forecast of 41,000 and marked the third consecutive monthly rise.
Although the number of mortgage approvals was still down by 21.9 per cent year-on-year, from 55,280 in April 2008, the Bank of England figures are the latest in a spate of more upbeat data about the housing market, bolstering hopes that activity is picking up.
Separate data today showed that the decline in the construction sector eased in May to its