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The latest figures from the Bank of England show that mortgage approvals across the UK have climbed to their highest level in nine months, a strong indication that confidence is returning to the housing market.
In September, 65,900 new mortgage approvals were granted for home purchases, marking the biggest monthly rise since December. Despite uncertainty around potential tax changes in the upcoming Budget, both buyer demand and borrowing activity are holding firm.
👉 Buyer Confidence Is Growing:
More people are committing to purchases rather than waiting on the sidelines. The data suggests that concerns about inflation and interest rates are easing, encouraging movers to take action.
👉 Borrowing Conditions Are Improving:
The average rate on new mortgages fell to 4.19%, the lowest since early 2023. As affordability slowly improves, more buyers are now able to re-enter the market.
👉 Market Momentum Is Building:
Increased approvals and borrowing indicate a market that is stabilising, not stalling. This trend could continue to support steady house price growth through the end of the year.
Locally, we are already seeing the ripple effects. Buyer enquiries across Derby have been steady throughout the autumn, and sellers who have priced realistically are achieving strong levels of interest.
For Buyers:
Confidence in mortgage lending means more competition for well-presented homes. Having your finances in order and a mortgage in principle ready could make all the difference when the right property appears.
For Sellers:
A rise in mortgage approvals often translates into faster sales and stronger offers. If you have been waiting for the right moment to market your property, this shift in buyer sentiment could make now an ideal time.
For Landlords And Investors:
A more active housing market can boost rental demand, particularly in desirable areas such as Allestree, Littleover, Mickleover and Chellaston, where tenant interest remains consistently high.
While affordability challenges remain, the steady improvement in mortgage lending and growing consumer confidence are welcome signs. With activity rising, this could be the perfect time to make your next move, especially in a strong and resilient local market like Derby.
✨ If you would like tailored advice about buying, selling or investing locally, get in touch with your nearest Hannells branch or arrange a free, no-obligation property valuation today.
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