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Increase in house buyer enquiries and mortgage approvals

New house buyer enquiries increased in March and the number of mortgages granted by banks and building societies increased by 4% in February, according to new figures.

Data from the Royal Institute of Chartered Surveyors (RICS) showed that new buyer enquiries rose in March by 31% compared to February's 21% rise - the fifth consecutive month that buyer enquiries have increased.

London experienced the largest rise in house hunters with a 63% increase in enquiries last March.

The Council of Mortgage Lenders (CML) has revealed that new mortgages increased by 4% in February to 24,300, up from 23,400 new mortgages approved in January.

"The market is still in a fragile state, but with demand continuing to pick up, there may be more signs of stabilisation in the coming months," said RICS spokesman Ian Perry.

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Post Date: April 15th, 2009