More than one third of homes bought by cash buyers

There were 1.23m homes sold in the UK last year – with a third of purchasers being cash buyers.

Cash buyers comprised 35% of all purchasers; home movers comprised 30%; first-time buyers 25%; and buy-to-let investors 10%.

Henry Pryor did the number crunching based on figures from the HMRC and Council of Mortgage Lenders.

He reckons the proportion of cash buyers was down from 40% in 2014.

* Who bought a cheap house last year? How about one in Wales for £90, and another in Sheffield for £150?

Reader Robert May says that he has found 25,377 properties on the Land Registry records which apparently sold for under £10,000 and we are told the Land Registry is investigating.

As for last year’s £90 house, we understand it was actually sold for £90,000 last summer. It is now back on the market at £134,950.

http://www.rightmove.co.uk/property-for-sale/property-55435031.html

 

£90

 

£150

One Comment

  1. PeeBee

    It is good to see that some of Robert’s work is now being acknowledged.

    What started as an off-the-cuff challenge nicked from ‘Field of Dreams’ (I dare to say this in full knowledge that 20-odd years of effort, thought, determination and insight had been building up ready to erupt – it just needed a catalyst…) has resulted in him, among other things, successfully challenging the accuracy of HMLRs data.

    Well done, Robert.  Credit where it is well and truly due.

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