Homebuyers were undeterred by the political uncertainty of the General Election in December as new data suggests a housing market revival in the last month of the year. Figures from the Bank of England show that the number of mortgages approved last month jumped to its highest level in over 2 years, despite claims at the time that the election was having a freezing effect on the number of transactions. The figures suggest a precursor to the 'Boris Bounce' described by estate agents in the weeks following the election, which saw an uptick in the number of buyers and sellers coming to market. Net mortgage borrowing grew to £4.6bn in December, some £400m more than the average for the previous 6 months, according to the Bank's Money and Credit report. Approvals for house purchases, which are an indicator for future borrowing, rose to 67,200, above the 65,900 average seen in the previous 6 months. According to the most recent report from Nationwide a 'modest pick-up' in the property market saw house prices climb 0.5% in January - adding £615 to the cost of the average home. In its first full month's report since the Election, Nationwide said cheap mortgages and a 'healthy labour market' helped boost Britain's housing market in January. For Mortgage Advice in Bury St. Edmunds, pop into The Mortgage Bureau at St Andrew's Castle or call 01284 337069. Your One Stop Mortgage Shop! https://local.google.com/place?id=1647018459384677851&use=posts&lpsid=5202173962735946834