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Mortgage Approvals Hit 18-Month Low as Housing Market Cools
30 Jan
Summary
- December saw the lowest mortgage approvals for home buyers in 18 months.
- Experts anticipate a housing market rebound due to budget certainty and rate cuts.
- Consumer credit growth remained steady, with credit card borrowing increasing.
Mortgage approvals for house purchases in December fell to 61,013, marking an 18-month low and a decrease from the previous month's 64,072 approvals. This downturn reflects a sluggish housing market in the fourth quarter of 2025, largely due to budget uncertainties. Experts predict a market resurgence in 2026, as financial conditions stabilize and interest rates are expected to decline further.
