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30 November 2023

Karl Wilkinson, CEO at Access Financial Services commented: “October’s data reveals a 21% decline compared to the same period last year, prior to the mini budget, with transaction figures expected to decrease further in line with winter trends. Additionally, we are currently 11.9% below the pre-pandemic surge of activity, which was largely buoyed by the Help To Buy scheme.

“Just this morning the industry has reported an uptick in mortgage approvals, surpassing expectations. This market’s most robust performance since July, would indicate a potential turning point in the housing market in the near future.

“Although we are still below the pre-pandemic levels, this positive trend is a promising sign of recovery and resilience in the sector. Advisers must continue to be ready to provide expert knowledge and advice to those looking to move or remortgage.”