Menu  

Cash buyer activity hits decade-high

Home page Bowson Property News Uncategorized Cash buyer activity hits decade-high

Cash buyers accounted for the highest percentage of market activity seen in the past decade and, so far this year, they’ve already accounted for a third of all purchases, research suggests.Yopa has analysed the split between cash homebuyers and mortgage homebuyers in the UK over the past decade, based on Land Registry data.

The data reveals that last year (2023) cash buyers accounted for 34.5% of all property transactions. This was the highest proportion seen since 2013 when the data on cash vs mortgage transactions became available.

In fact, it was only a decade ago when the market split attributed to cash buyers came close to that seen last year, sitting at 33.5% in 2013 and 33.3% in 2014.More recently, the proportion of market activity attributed to cash buyers has been far lower, sitting below 29% between 2019 to 2022.

The analysis by Yopa also shows that so far this year, cash buyers have already accounted for almost a third of all market activity (32.8%), as higher mortgage rates continue to prove problematic for those looking to climb the ladder with the aid of a mortgage.

Verona Frankish, chief executive of Yopa, said: “Mortgages have become increasingly more expensive since interest rates started to climb and we’re now seeing the result of higher borrowing costs when it comes to buyer trends within the market.

“Not only is it far tougher for those looking to purchase with the aid of a mortgage, but as a result, cash buyers are in a far stronger position within the market making them the first choice for many sellers.

“The good news is that there is light at the end of the tunnel and the broad expectation is that interest rates will start to ease this year. As they do, we expect the market will return to a greater degree of normality when it comes to the cash versus mortgage buyer balance.”

Source: https://www.estateagenttoday.co.uk/breaking-news/2024/7/cash-buyer-activity-hits-decade-high

Request a Free ValuationContact Us

Request a free valuation



  • Property Address








You’re in Safe Hands

117 St George's Terrace
Jesmond, Newcastle
NE2 2DN

0191 212 8100
info@bowsonproperty.co.uk

Monday - Friday09:00 - 17:30
Saturday09:00 - 16:00
SundayClosed

Tenancy information

Before the tenancy starts (payable to Bowson)
Holding Deposit: 1 weeks rent
Tenancy Deposit: 5 weeks rent
Rent: 1 months rent less holding deposit with a standing order set up for the subsequent monthly rent

During the tenancy (payable to Bowson if managed or landlord)
Tenancy agreement change: £50 inc vat
Late payment of rent: Interest charged at 3% above bank of England base rate for each day that the rent payment is outstanding over 14 days
Loss of keys/security devices: £15.00 +key cutting cost/ security device replacement.
Early termination of the tenancy: Payment of any unpaid rent up to the tenancy end date and a proportion of the Landlords tenant find fee (calculated by dividing the landlord tenant find fee by the number of months in the tenancy x the number of months left in the tenancy).

During the tenancy (payable to the provider) if permitted and applicable
Utilities – gas, electricity, water
Communications – telephone and broadband
Installation of cable/satellite
Subscription to cable/satellite supplier
Television licence
Council Tax

Other permitted payments
Any other permitted payments, not included above, under the relevant legislation including contractual damages.

Tenant protection
Bowson is a member of safeagent, which is a client money protection scheme, and also a member of The Property Ombudsman, which is a redress scheme. You can find out more details by contacting us directly.