UK mortgage approvals rise for first time in six months

Collapse in demand for property may be bottoming out but no return to boom conditions, analysts say

Mortgage approvals rose for the first time in six months in February amid signs that the collapse in demand for property seen last autumn might be bottoming out.

Figures from the Bank of England showed that home loan approvals rose from 39,647 in January to 43,536 in February – reversing a downward trend in place since August 2022.