16% jump in Mortgage sales

16% jump in Mortgage sales

According to new data from Equifax Touchstone, residential and buy-to-let sales combined stood at £12.25bn in January - up 15.6% on December.

Compared with the same period last year, total sales were up 32.4% (£3.00bn). The year-on-year increase for buy-to-let sales is 36.2%, while residential sales are up by 31.2%.

The Midlands and Wales were the best performing regions in January, with growth of 23.3% and 22.5% respectively compared to December 2015. London’s increase of 9.9% was the second lowest, just ahead of Scotland at 9.6%.

The average value of a residential mortgage in January was £187,538 (2014: £175,002) and £156,001 for buy-to-let (2014: £150,210).


Iain Hill, Relationship Manager, Equifax Touchstone, said: “It’s promising to see such a strong start to 2016, with positive growth across the UK. The deadline for the increase in stamp duty tax on buy-to-let properties is fast approaching, and it will be interesting to see how resilient buy-to-let growth will prove. We do however remain optimistic about the prospects for mortgage sales in the year ahead.”

Join our mailing list:

Leave a comment



Latest Comments

Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

view article
richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

view article
Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

view article
maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

view article
maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

view article
zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

view article
Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

view article
Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

view article
RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

view article
sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

view article
Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

view article
Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

view article

Related stories

More articles from Property