Mortgage approvals up as Help to Bubble scheme takes effect

UK mortgage approvals have come in above analyst estimates, at 60,624 in July. Economists had predicted a jump to 59,000 from 57,667 the month before.

The government's Help to Buy scheme, only one part of which is now active, has prompted higher demand in the housing sector. But for all that mortgage help, nothing has happened to our bottlenecked supply.

Tight planning rules mean that builders can not respond effectively to higher house prices.