Mortgage approvals have gone up for the fourth month in a row according to the latest figures from the Bank of England.

The numbers have grown from 64,958 in August to 65,647 in September, a 1.1% increase – but over the past twelve months approvals have climbed by nearly 50%, the data reveals.

Nathan Emerson, CEO of Propertymark says: “Considering the economic headwinds of the last few years, the housing market has shown great resilience, delivering a positive trajectory of growth throughout the duration of the year to date.”

CEO of Spicerhaart and Just Mortgages, John Phillips, says this marks the highest level in two years, since August 2022, demonstrating “clear signs of renewed vigour in the housing market”.

He adds: “Alongside this, the rise in remortgage approvals to 30,800 shows that both buyers and existing homeowners are eager to engage with the market again”.

Stephanie Daley, Director of Partnerships at mortgage advisor, Alexander Hall, adds: “The outlook remains a very positive one for the remainder of the year and we expect that the mortgage sector will continue to act as the catalyst that drives the recovery of the wider market forward as we head towards 2025.”

All three expect the numbers to rise even higher when October’s post-budget mortgage statistics are released.