First-Time Buyers Remain Dominant In Driving Housing Activity

Lloyds Bank has reported that the number of people moving home increased for the first time in three years in the first half of 2019. There were 160,540 homemovers in the first half of 2019, up by 810 (1%) compared with the same period in 2018. Homemovers are still behind first-time buyers however where the numbers increased at a slightly higher rate of 7,460 (5%) to 173,790 in the first half of 2019. Regionally, the North, South East and Scotland are seeing falls (between 0.3% and 1.9%) in the numbers of homemovers in the first half of 2019 compared to the same period in 2018. Read more on the Best Advice website.

https://bestadvice.co.uk/first-time-buyers-remain-dominant-in-driving-housing-activity/

First-Time Buyer Activity Continues To Grow In June

On a non-seasonally adjusted basis, UK Finance data shows that mortgage lending in June rose:

• First-time buyers borrowed £5.9bn, up 26% on the previous month and 9% on June 2016.
• Home movers borrowed £7.8bn, up 26% on May and 15% year-on-year.
• Home-owner remortgage activity totalled £6bn, up 5% by value on May and 7% on a year ago.
• Gross buy-to-let totalled £3.0bn, up 3% on May and up 3% compared to June 2016.

Read more on the UK Finance website.

Home Buyers Up 12% In May Compared To April

On a non-seasonally adjusted basis, UK Finance data shows that mortgage lending in May rose:

·         Home buyers borrowed £10.8bn, up 10% on April and 16% on May 2016.

·         Within this, first-time buyers borrowed £4.7bn, up 12% both on last month and on May 2016.

·         Home movers borrowed £6.2bn, up 11% on April and 22% year-on-year.

·         Home-owner remortgage activity was up 10% by value and 9% by volume on April.

·         Gross buy-to-let totalled £2.9bn in May, up 16% on April and 12% compared to May last year.

Read more on the UK Finance website.

Home Buying Activity Declines In January

On a non-seasonally adjusted basis, lending in January:

·         Home buyers borrowed £8.4bn in January, down 28% on December and unchanged on January 2016. This came to 45,700 loans, down 28% on December and 1% on January 2016.

·         First-time buyers borrowed £3.6bn for home-owner house purchase, down 29% on December but up 9% on January 2016. They took out 22,600 loans, down 29% month-on-month but up 7% year-on-year. 

·         Home movers borrowed £4.9bn, down 25% on December and 4% year-on-year. This equated to 23,000 loans, down 27% month-on-month and 7% compared to January 2016.  

·         Gross buy-to-let saw month-on-month increases, up 11% by value and 12% by volume. Compared to January 2016,  both the number of loans and the amount borrowed decreased by 16%.    

Read more on the CML website.

Number Of Homemovers Falls For First Time In Five Years

The number of people moving home has fallen for the first time in five years, according to Lloyds Bank research. The number of homemovers is estimated to have reached 354,000 in 2016 – down 4% from 2015 when homemover numbers totalled 367,300. This is the first annual decline since 2011, following four successive years of growth. Overall, the current number of homemovers has grown by 12% since the lowest point of the recent housing downturn in 2009 when the number of people moving home was 315,000, the second lowest since records began. However, the current figure remains 50% below the level of 712,000 a decade ago. Read more on the Financial Reporter website.

House Purchase Lending Up 5%

On an unadjusted basis, in November:

·         Home-owners borrowed £11bn for house purchase, up 5% month-on-month and 2% year-on-year.

·         First-time buyers borrowed £4.7bn, up 4% on October and 9% on November last year. This equated to 30,100 loans, up 5% month-on-month and 8% year-on-year.

·         Home movers borrowed £6.3bn, up 7% on a month ago but down 5% compared to a year ago.

·         Remortgage activity totalled £5.8bn, down 5% on October but up 14% compared to a year ago.

·         Landlords borrowed £3.2bn, up 10% month-on-month but down 9% year-on-year.

Read more on the CML website.

August House Purchase Lending Up 11%

in August:

·         Home-owners borrowed £12.2bn for house purchase, up 14% month-on-month and 11% year-on-year. They took out 66,000 loans, up 13% on July and 9% on August 2015.

·         First-time buyers borrowed £5.1bn, up 13% on July and 24% on August last year. This equated to 31,800 loans, up 12% month-on-month and 19% year-on-year. 

·         Home movers borrowed £7.1bn, up 15% on July and 3% compared to a year ago. This represented 34,200 loans, up 14% month-on-month and 1% on August 2015.

·         Remortgage activity totalled £5.9bn, down 2% on July but up 41% compared to a year ago.

Read more on the CML website.

First-Time Buyer Lending Up 25%

On an unadjusted basis, in June:

·         Home-owners borrowed £12.3bn for house purchase, up 29% month-on-month and 12% year-on-year. They took out 68,200 loans, up 26% on May and 8% on June 2015.

·         First-time buyers borrowed £5.5bn, up 28% on May and 25% on June last year. This equated to 34,300 loans, up 24% month-on-month and 17% year-on-year.

·         Landlords borrowed £2.9bn, up 12% month-on-month but down 15% year-on-year. This came to 18,300 loans in total, up 8% compared to May and down 17% compared to June 2015.

·         Home movers borrowed £6.9bn, up 33% on May and up 5% compared to a year ago. This represented 33,900 loans, up 28% month-on-month and up 0.3% on June 2015.

Read more on the CML website.