House sales leap up as cash is king
Tue 26 Mar 2013
There were 85,710 house sales in the UK last month, up from 81,390 in January and a 9.6% rise on February last year.
The data is from HMRC which records transactions as they complete, for Stamp Duty reasons.
The figures suggest a growth in cash purchases, after the Council of Mortgage Lenders reported – for the second month running – a fall in gross mortgage lending. The 8% monthly dip, reported by CML on the day of the Budget, took lending down to £10.5bn in February.