U.K. Mortgages Soar With House Prices as Economy Recovers

U.K. mortgage approvals and house-price growth increased to the most since 2007, as the property market continued to accelerate at the start of the year.

Manufacturing expanded at a faster pace in February, with a gauge of job creation soaring to a 33-month high, a separate survey showed. The data, which underscore the strength of Britain’s economy, come before the Bank of England’s March 6 meeting. Chief Economist Spencer Dale said in an interview last week that the revival in the property market is good for the economy, while officials are alert to the risk of overheating.