1 Nov

Cash buyers purchase houses for sale in central London

Cash buyers purchase houses for sale in central London

A number of people purchasing houses for sale in central London have been noted to be cash buyers.

According to a report conducted by Marsh & Parsons released last week, 71 per cent of property purchases in central London during August 2010 were bought by people paying with cash.

It stated that the majority of homebuyers in this area had not been affected by the recent problems in the mortgage lending market.

This represents an increase in the number of homebuyers purchasing houses for sale in central London paying by cash since February, when the figure was 58 per cent.

It was also revealed that while people in Chelsea, Kensington, Westminster and Mayfair were keen to pay by cash, the majority of purchases for properties for sale in other areas around the country were made with a mortgage.

During August 2010, only 27 per cent of property purchases nationally were made by cash buyers.

Last month, Halifax reported that there were 2,992 million pound property sales in the UK during the first six months of 2010 - an increase of 118 per cent from the same period in 2009.ADNFCR-1222-ID-800208919-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. We would like to place cookies on your computer to help us make this website better. To find out more about the cookies, see our cookies policy

  • I accept cookies from this site