June Buy-to-Let Sales 28.6% Lower than Last Year June Buy-to-Let Sales 28.6% Lower than Last Year

June Buy-to-Let Sales 28.6% Lower than Last Year

June buy-to-let sales were 28.6% lower year-on-year but still rose by 3% from the month before to reach £2.7bn, Equifax Touchstone analysis shows.

Residential mortgage sales were more consistent, growing by 4.4% from last year and by 2.6% from the previous month to £13.2bn.

Iain Hill, relationship manager at Equifax Touchstone, said: “June was another strong month for mortgage sales, despite an anticipated drop ahead of the EU referendum.

“Now an exit has become a reality, the really interesting stats to watch will be the July sales. There are a myriad of factors affecting house buying decisions and people will be weighing these up very carefully before deciding to take the plunge.

“The market is expecting sales to fall, but the extent of the impact is much harder to predict. We anticipate that lenders will react quickly and decisively to support sales, encouraging buyers with competitive new deals at lower rates.”

London saw the biggest decline in residential sales in June, dropping 3.8% from May.

The average value of a residential mortgage in June was £191,577 (2015: £185,553), and £161,102 for buy-to-let (2015: £156,584).

Property & Development Magazine is a market-leading group of media platforms, dedicated to the complete Residential Sector with a combined reach in excess of 50,000+ industry professionals. With the latest news, exemplar case studies, comment, interviews and feature articles from leading lights in the industry plus company spotlights and profiles, Property & Development aims to inform, inspire and spread best practice about all aspects of the residential sectors.

With a fresh and current approach, combined with the investments and inputs from our valued team, the magazine has attracted an engaged readership with subscribers including Management Level Executives and Key Decision Makers that is expanding week on week.

See also  Pay To Stay To Be Voluntary For Housing Associations

We offer a range of products and services across our platforms to best allow us to offer suitable marketing and exposure for all levels of companies and media partners. Please feel free to browse our Media Pack to see the options available or get in touch with a member of our team who will be more than happy to assist you.

Property & Development Magazine

Leave a Reply

Your email address will not be published. Required fields are marked *