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.”

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Jimmy_McCoy
Jimmy_McCoy 16 Sep 2016

I think that the main reason to buy garden purchases in last minute is because people always search for the best deal. In summer months there are abundance of seasonal goods and it means more low cost

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Jimmy_McCoy
Jimmy_McCoy 16 Sep 2016

Buying a home often is more expensive than you expect. There are lots of hidden costs such as: stamp duty, surveys and valuations, mortgages etc. that can add more than 10% to the total bill

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Homebuyerconveyancing
Homebuyerconveyancing 15 Sep 2016

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oliviaG 29 Aug 2016

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Jason Roberts
Jason Roberts 25 Aug 2016

Any predictions what average rent will be at the same time next year, anymore drops coming?

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dylanvan
dylanvan 19 Aug 2016

very good, thanks for sharing

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SecomTech
SecomTech 19 Aug 2016

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jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover 11 Aug 2016

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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