In 2018, just under 285,000 properties across Great Britain were purchased with cash alone, comprising 29% of all property sales.
This is the lowest proportion of cash sales recorded since this record began. Between 2012 and 2017, more than 30% of transactions were cash sales.
The proportion of cash sales fell in each region of the country. With landlords facing increased costs and challenges, it seems that some have chosen to invest their cash elsewhere. It is no coincidence that as cash sales have dropped, so the proportion of sales to first-time buyers has increased.
Most popular regions for cash sales continue to be the South West and Wales, where more than 1 in 3 properties sold in 2018 were bought with cash alone.
With renting offering more flexibility than ownership, some tenants have traditionally used the sector as a way to get to know a new area before committing to buying. Indeed, the majority of tenants stay within their local area when moving home. In 2018, over a quarter (27%) of tenants moved within a mile of their […]
Nearly half (49.2%) of all babies were born into rented homes in 2016/17, according to a new report by Royal London, up from just one in three in 2003/04. The average age for first-time mums and dads is 29 and 33 respectively, while the average age of a first-time buyer is now 34. The so-called […]
We look forward to celebrating the imminent birth of the Duke and Duchess of Sussex’s first child, who will be seventh in line to the throne. While we await news of Harry and Meghan’s arrival, in property terms which are the most valuable, or familiar of the bookmakers’ favourites? Properties sold on streets bearing the […]