General election fails to deter homebuyers

election fails to deter homebuyers
General election fails to deter homebuyers

Political uncertainty caused by the general election is having little effect on homebuyers.

In the week houseebuilder Bellway a unveiled bumper set of half-year figures, it was revealed that the number of mortgage approvals rose for a successive month in February to hit a five-month high.

Pre-tax profit jumped 51.1% to ££158.9m for Bellway, which has gone from building 4,380 homes in 2009 to an estimated 7,500 this year.

The company, which reports its order book is 35% ahead of last year at £1.1bn, also reported that its half-year revenue rose 18.3% to £831.2m.

And in another indication that housing market activity is picking up, the British Bankers’ Association reports the number of new mortgages approvals increased to 37,300 last month from January’s total of 36,400.

The BBA’s figures, which put the value of home loans approved in February at £6.2bn, contrast with data released by the Council of Mortgage Lenders that shows mortgage lending fell to its lowest level in nearly two years in February