The BBA Mortgage Approvals report measures the number of new mortgages approved for home purchases by major UK high-street banks. It serves as a leading indicator for the health of the UK housing market and broader consumer spending patterns. High approval numbers typically signal a robust property market and increased economic confidence, while low numbers suggest a cooling market. This data was historically compiled by the British Bankers' Association and is now part of the UK Finance statistical releases.
The data is calculated by aggregating the total number of mortgage applications approved for house purchases during the reference month by major UK banks. It focuses specifically on approvals rather than completed sales to provide a more forward-looking view of market activity.
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