"Mortgage approvals for home buyers plummeted to a two-year low in January, falling below 60,000 for the first time since January 2024, according to new figures from the Bank of England. The Bank's Money and Credit report revealed that just 59,999 approvals for house purchases were recorded in January 2026, marking the lowest total since 55,946 approvals in January 2024."
"Nationwide stated that the average UK house price rose by 0.3 per cent month-on-month in February, with an annual increase of 1.0 per cent. The typical house price stood at 273,176 last month."
"With nominal house price growth running at just 1.0 per cent, prices are still falling on an inflation adjusted basis. This is contributing to a gra"
UK mortgage approvals declined significantly to 59,999 in January 2026, the lowest level since January 2024, according to Bank of England data. Remortgaging approvals also decreased slightly to 38,100 from 38,400 in December. Despite this decline, Nationwide Building Society reported steady house price growth, with the average UK house price rising 0.3% month-on-month and 1.0% year-on-year, reaching £273,176. However, when adjusted for inflation, real house prices are declining. Market analysts anticipate increased housing activity in coming months despite current approval challenges.
Read at www.independent.co.uk
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