The Bank of England has said mortgage approval reached a four-year high last month.
The report said more potential buyers are securing finance to get on the property ladder resulting in over 70,000 mortgages being approved in January, the highest since February 2016.
Director of Benham and Reeves, Marc von Grundherr, said: “The highest rate of mortgage approval in almost three years and particularly so early in the year is yet further proof, if it were ever needed, that buyers are returning in their droves following December’s election result.
“It is this huge influx of demand that has seen prices increase at such notable rates of late and as a result, the market is now in the best shape it’s been since the EU Referendum itself.”
He added: “Not only are seeing performance exceed expectations but there is a very real chance of an interest rate cut on the horizon, which will further boost buyer sentiment, borrowing, and overall market performance.”