Big Furniture Group takes a look at the latest statistics around mortgage approvals, house prices, property moves and construction.
According to the latest report from the Bank of England, net mortgage approvals for house purchases increased 2.8% to 58,200 in June from 56,600 in May, but was below an average of around 61,400 over the previous six months. Approvals for remortgaging also increased 1.1% to 34,200 in June, from 33,800 in May.
The ‘effective’ interest rate – the actual interest paid – on newly drawn mortgages increased to 4.35% in June, from 4.22 in May. The rate on the outstanding stock of mortgages was 3.96% in June, up from 3.92% in May.
Meanwhile, the latest data for new builds shows the total construction output is estimated to have fallen by 0.8% in May 2026; this follows a decrease of -0.1% in April 2026, and an increase of 1.4% in March 2026.
Furthermore, total new housing rose 1.9% compared to the decline of -1.5% in April, with public new housing down -0.1% from an increase of 3.9%. Private new housing construction increased during June by 2.3%, compared to its decline of -2.7% in April.
On an annual comparison, total new housing increased compared to the decline of -1.3% in June 2025, with public new housing improving from the decline of -1.2%, while private new housing rose compared to a decline of -1.3%.
As for property prices, detailed in the latest Rightmove House Price Index, the average price of property coming to market rose by 1.2% (+£4,333) in May 2026 to £378,304, exceeding the typical ten‑year May increase of 1.0% as market confidence remains surprisingly strong. However, prices have fallen by 0.3% since May 2025.
The housing market remains confident overall despite global uncertainty and resulting cost-of-living pressures, with the number of sales agreed just 4% below last year when mortgage rates were significantly lower, yet still up 2% on the same period in 2024.
With regards to moves, property intelligence firm TwentyCi recently revealed a decline in sale agreed properties but a slight rise in new properties being listed.
According to the latest TwentyCi Property & Homemover Q2 2026 report, the number of properties brought to market in Q2 is up by 0.5% compared to Q2 2025. Overall year-to-date new properties to the market has increased by 2.7% and the trend of record supply levels over the past decade continues. (See related).
The data of mortgages, construction and property moves can provide some insight into the outlook for spending on big-ticket items such as furniture, beds and sofas.
