Home Buying Hits Highest Level Since 2007

Published: 20/09/2021

The second quarter of 2021 has seen home buying activity hit its highest levels since 2007, according to latest reports, with stamp duty holiday said to have played a major role.

Figures published by UK Finance’s Household Finance Review combined loans issued to first-time buyers and movers, which came to 244,860 compared to 46,520 in the same period last year.

It claims that a lot of the strong activity happening in the market was fuelled by the BTL market and first-time buyers with BTL landlords completing 15,200 new loans in June alone, the highest monthly loans there’s been in the market since 2016.

UK Finance also suggests that a large part of the recent purchasing activity was due to the extension of the stamp duty holiday, coupled with the delayed property purchases from previous lockdowns going ahead.

Purchase levels during the first half of 2021 had either returned to a normal level or higher than prior to the pandemic.

London has seen property purchase activity receive a significant increase, with over triple the amount on this time last year, along with the South East and Northern Ireland. Other countries and areas such as Wales, South West and East Anglia have all seen their activity more than double during the period too.

How GWlegal can help your clients secure the keys to their new home today

Whether your client wants to purchase their first home, make the move to pastures new or sell up, we’ve got brilliant deals and a wealth of experience and expertise with over 37 years’ experience the property sector.

To find out more about the various deals we have available including our combined sale and purchase deal, simply get in touch with our brilliant conveyancing team today!

Check out our other articles:

UK Areas Where Properties Are Selling Quickest
Questions First-Time Buyers Should Be Asking

Why do we offer the best property service to your clients?

• GWlegal prides itself on offering a transparent fee structure, so there will be no (bad) surprises in respect to our fees

• We've got an award-winning Conveyancing team

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For more information email Teresa on teresa.abols@gw.legal or Helen on Helen.Bond@gw.legal

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Content correct at time of publication

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