Mortgage approvals still rising

[Rande273]

The property market continued to pick up in May, according to figures from the Bank of England.

The number of mortgages approved for house buying rose to 43,414, up from the figure of 43,191 the month before.

It was the fourth month in a row that approvals have risen, suggesting that the recent increase in sales is likely to continue.

Recent evidence from lenders has also suggested that the slump in house prices is slowing down.