Northern England mortgage market improves: UK Finance


The total figure lenders provided towards the purchase of an estimated 180,000 properties in the north of England last year was £23.4bn, a rise of 1 per cent on 2017, according UK Finance.

An estimated 85,000 first-time buyers purchased properties in the north of England last year, representing an increase of 3 per cent on 2017, it adds.

Liverpool saw the largest growth in FTB activity in last year, increasing by 4.6 per cent. This was followed by Hull at 4.3 per cent.

The buy-to-let market also experienced growth across the north: Hull saw a 12.8 per cent rise annually. This was followed by Newcastle at 6.1 per cent, and Liverpool at 6 per cent.

In contrast, there was a decline in BTL activity in Greater London to the tune of 18.6 per cent.

Looking at all home buyers, Hull saw the largest increase, at 5.9 per cent year-on-year. Leeds followed at 2.1 per cent. UK Finance director of mortgages Jackie Bennett says: These figures show the north of England has a strong and dynamic mortgage market, with lenders helping thousands of FTBs onto the housing ladder.

This has been combined with a steady increase in homemovers, making it easier for buyers to find a property that suits their needs. Meanwhile, attractive rental yields in many northern cities have driven growth in BTL lending, bucking the national trend.

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