Mortgage sales rocketed last month, with the North and Yorkshire leading the way. According to Equifax Touchstone, mortgage sales for the UK jumped 23.6% in February to £14.1 billion. Residential sales accounted for £11.8 billion of this figure, while buy-to-let sales totalled £2.3 billion. The North and Yorkshire led the way for the highest regional mortgage sales […]
Mortgage sales rocketed last month, with the North and Yorkshire leading the way.
According to Equifax Touchstone, mortgage sales for the UK jumped 23.6% in February to £14.1 billion.
Residential sales accounted for £11.8 billion of this figure, while buy-to-let sales totalled £2.3 billion.
The North and Yorkshire led the way for the highest regional mortgage sales growth with a 27.9% increase compared to January.
Scotland and the Midlands followed closely behind with notable growth of 26.8% and 25.4%, respectively, while the North East trailed behind with the lowest growth of 16.2%.
John Driscoll, director at Equifax Touchstone, said: “Following a volatile end to 2016 the mortgage market saw a vast increase in sales last month in every region across the UK.
“As the UK moves towards triggering Article 50 we will watch with great anticipation to see how the market responds, and whether there will be a noticeable impact on mortgage sales.”
Regional growth in mortgage sales
| Regional area | Total mortgage sales growth |
| North and Yorkshire | +27.9% |
| Scotland | +26.8% |
| Midlands | +25.4% |
| London | +24.2% |
| North West | +22.1% |
| South East | +22.0% |
| Home Counties | +21.6% |
| Northern Ireland | +21.2% |
| Wales | +20.9% |
| South Coast | +19.9% |
| South West | +19.9% |
| North East | +16.2% |
