More news from the UK property market from Dibben and Dibben as mortgage approvals rose to the highest level since March 2008 in September, according to the Bank of England. The number of mortgages approved for house purchase, but not yet lent, rose 3,000 during the month to 56,000.

Mortgage approvals are a good indicator of short term trends in the property market, and have risen this year in line with recovery in completed sales.

"Lending activity has recovered in recent months, when compared to the start of the year, as buyers and sellers tentatively return to the market," said Adrian Coles, of the Building Societies Association (BSA).

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