38% of sales this first quater have been sold to cash buyers...
Posted on Wednesday, June 3, 2015
The UK's second biggest mortgage lender Nationwide has said that 38% of properties were sold to cash buyers in the first quater of 2015.
Low interest rates have encouraged investment in property meaning 4 out of 10 sales during this period were to cash buyers.
Nationwide have also reported that houses prices for May 2015 were 4.6% higher than last year.
Figures released from the Bank of England suggest that this trend may not continue as mortage lending has increased.
Let's see what the next quater of 2015 will bring!