Buying Property

Almost half of all property purchase valuations last month were conducted on behalf of first-time buyers according to Connells – well above the five-year average for the month.

Strutt & Parker, one of the UK’s largest independent estate agents, has seen demand for property in the UK increase significantly in recent months, but the company reports that the housing market in prime central London ‘remains static’.

The number of investors using gifted deposits, a sum of money that is given by a family member forming all or part of a deposit for somebody wanting to buy a property, has dropped by 3% in the last two years, new figures show.

The second charge mortgage market saw new business increase 33% by value and 22% by volume in June compared with the corresponding month last year, according to the latest data from the Finance & Leasing Association (FLA).