Mortgage approval rates are at a two-year high, according to newly-released research.
Rightmove’s House Price Index for October also found conditions in the north are more buoyant than those in the south.
The gulf in cost of home ownership is the highest ever recorded by the company, with average price of a dwelling in the north £164,347, while it is £336,743 in the south.
In terms of new sellers’ asking prices, there was a 2.8 per cent swell in the month, with abodes in London now costing £450,210 – which is an all-time high.
Miles Shipside, director of Rightmove, noted the increase in mortgage approvals is good for those looking to get on the property ladder.
“However, the reality is that there is further evidence of the two-tier twist which is dogging the return to more widespread liquidity in the housing market,” he added.
Mr Shipside continued by saying people are starting to see the value of “bricks and mortar” again.
He stated anyone who is looking to trade up will be able to benefit from already owning a house .
