Jeremy Duncombe, Director, Legal & General Mortgage Club, comments: “Uncertainty in the current political and economic landscape might have made some buyers act with caution before investing in a new property. Yet despite the more discouraging views on the housing market, the mortgage industry has actually remained resilient in the face of Brexit negotiations and a minority government.

In fact, with house prices now rising in line with wage inflation, for many previously struggling first-time buyers the housing market now offers more opportunity to make the first step.

However, the long-running issue of housing supply remains, and it’s vital that the Government continues to find and act on ways to address our limited housing stock to boost housing supply and give more younger buyers a better chance at homeownership.”