Firstly, mortgage approvals are at their highest since Dec-2009 hitting 58.2k for May compared to 54.3 in Apr as it looks like the government buying scheme is helping to create more demand.
Secondly, the FLS is helping to lower the cost of a mortgage with lending rates on secured loans at 3.34% which is the lowest since the data was collected in Jan 2009.
The data continues to point toward more in the way of upside for house prices which should feed into more demand and this will feed through into a more positive backdrop for the UK economy.
