Home Buying Hits Highest Level Since 2007

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.

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Check out our other articles:

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Questions First-Time Buyers Should Be Asking

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