With three quarters of this year complete, they now expect a full-year increase of 7.5 per cent, up from 7 per cent previously.

The trends in approvals are broadly in line with Q1 and are unlikely to impact our mortgage forecasts, according to Davy.

New research carried out by Davy said they expect a moderate slowdown in monthly property price increases compared to 2024, in light of the gradually increasing supply available for purchase.

The planner’s report acknowledged that the existing shopping centre is a local landmark, but this was not due to the quality of its architecture