UK monthly mortgage sales increased by 25.4% in May to £17 billion, according to Equifax Touchstone. Buy-to-let figures jumped 26.1% to £2.7 billion, with residential up 25.2% (£2.88 billion) to £14.3 billion. Every region across the UK witnessed growth in sales. Northern Ireland experienced the largest increase of 36.3%, followed by the North East (30.1%) and […]
UK monthly mortgage sales increased by 25.4% in May to £17 billion, according to Equifax Touchstone.
Buy-to-let figures jumped 26.1% to £2.7 billion, with residential up 25.2% (£2.88 billion) to £14.3 billion.
Every region across the UK witnessed growth in sales. Northern Ireland experienced the largest increase of 36.3%, followed by the North East (30.1%) and London (28.7%).
John Driscoll, director at Equifax Touchstone, said: “Following weak figures last month, prompted by government intervention to cool buy-to-let property sales and election uncertainty, mortgage sales have rebounded in quite spectacular fashion, hitting a monthly high for 2017 of £17 billion, with every single region experiencing notable growth.
“The outlook for the market however remains murky as issues such as political uncertainty linger; but we could see this sales boost continue into the summer months.”
The data shows that the average value of a residential mortgage in May was £200,338 (2016: £194,005) and £155,473 for buy-to-let (2016: £160,729).
| Regional area | Total mortgage sales growth |
| Northern Ireland | 36.3% |
| North East | 30.1% |
| London | 28.7% |
| Scotland | 26.9% |
| North West | 26.9% |
| South West | 26.6% |
| North and Yorkshire | 26.5% |
| Home Counties | 25.1% |
| South Coast | 23.7% |
| Midlands | 21.8% |
| South East | 21.4% |
| Wales | 19.9% |
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