"There appears to be a very, very slow thaw going on in the housing market"
- David Tinsley, BNP Paribas economist
Number of approved mortgages in the U.K. rose in April boosted by record low interest rates. Mortgage approvals increased to 51,823 in April, the highest level since January, up from 51,067 in March, Bank of England data showed.
"Mortgage approvals are very low compared to long-term norms," said Howard Archer, an economist at IHS Global Insight in London.
"Serious worries over the situation in Greece and how this could hit the U.K. economy may well lead to increased caution over buying a house and damp prices."
"There appears to be a very, very slow thaw going on in the housing market," said BNP Paribas economist David Tinsley.
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