September mortgage sales rise by 8.4%

Ryan Bembridge

October 18, 2016

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Mortgage sales reached £1.2bn in September – an 8.4% rise from the month before, Equifax Touchstone analysis has found.

September buy-to-let figures jumped by 19.0% to £2.9bn, while residential sales increased by 6.2% to £12.2bn.

The North West and London saw sales increase by 12.7% and 11.7% respectively, while Scotland and Northern Ireland saw modest growth of 1.9% and 0.7% respectively.

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Iain Hill, relationship manager at Equifax Touchstone, said: “With unseasonal gains in August and encouraging figures for September, the market is showing positive signs for a strong end to the year.

“These healthy figures are very welcome, particularly in buy-to-let, where we have seen a number of new market entrants in the last year or so.

“Although we still have a way to go to get back to the levels of business seen in 2015, the signs are promising. We are watching with great anticipation to see what this year’s unpredictable market will reveal next month.”