Bank of England figures 'not positive'
Brits looking for more space in their home often face a choice between extending or moving, with lean-to conservatories, loft conversions and kitchen extensions just some of the options.
New figures from the Bank of England show what, on the surface, appears to be good news for those looking to move.
The number of mortgage approvals was up to 49,871 in April, compared to 49,008 the previous month.
However, Firstrung chief executive officer Paul Holmes claimed that people should not get too excited by the news.
"I hardly think that the micrometre movement that the mortgage market made last month is worth debating," he said.
Mr Holmes noted that mortgage approvals and house sales are still around 50 or 60 per cent down on the market's peak.
He suggested that the news was "hardly anything for the Bank of England ... to be cheering about", adding that the £200 billion of quantitative easing had also had an effect.
Posted by Paul Steel
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