Home buyers in London fell to a 4 year low in 2016 says CML
Press release yesterday 22nd February from Council of Mortgage Lenders (CML) headlined ‘London home buyers down 3% in fourth quarter 2016’.
Paul Smee, CML director general, commented: “The number of home buyers in London fell to a four year low in 2016. Home mover activity in particular continues a downward trend, with the fewest loans since 1991. Persisting supply and affordability issues appear to be exerting an ongoing restraint on growth, meaning there is some uncertainty around how the market will perform going into 2017.
“By contrast, remortgage activity appears to be experiencing a resurgence. Competitive mortgage rates aided by low interest rates have sparked remortgage levels not seen in the Capital since 2008”.
Read the CML press release in full click here.