Year ended on a sales surge
STRONG house sales through 2013 continued into its closing months, resulting in a 19 per cent year-on-year increase in the fourth quarter, according to the Council of Mortgage Lenders.
First-time buyer numbers were up 30 per cent. CML director general Paul Smee says: “In 2013, there was a resurgence in the mortgage market with year-on-year growth for all types of borrower. First-time buyers were an especially important factor in driving the market. The consistent upward lending trend seen throughout 2013 would suggest relative optimism going forward. But there are challenges ahead, not least in implementing the Mortgage Market Review regulation in April.”