Chief economist of the British Bankers Association said "The housing market is beginning to hot up again, as we’ve seen a pick-up in the number of mortgage approvals for the last month.”

High street banks mortgage lending was up by 8% on the same month last year, whilst remortgaging was 20% higher and house purchase loans were up 6.2%.

There is a possibility that this spike could be due to the planned increase in interest rates but fingers crossed this is a positive sign for the housing market.