{"id":26505,"date":"2024-10-15T09:46:13","date_gmt":"2024-10-15T08:46:13","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/10\/15\/proportion-of-cash-homebuyers-reaches-10-year-high\/"},"modified":"2024-10-15T11:31:27","modified_gmt":"2024-10-15T10:31:27","slug":"proportion-of-cash-homebuyers-reaches-10-year-high","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/10\/15\/proportion-of-cash-homebuyers-reaches-10-year-high\/","title":{"rendered":"Proportion of cash homebuyers reaches 10-year high"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The proportion of homebuyers choosing to pay in cash has hit a 10-year high<\/strong><strong><sup>1<\/sup><\/strong><strong>, analysis has found.<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In 2023, cash buyers were responsible for a third (34.5%) of all property transactions \u2013 the highest percentage seen since data became available in 2013. This trend carried on into this year, as 32.8% of market activity was attributed to cash buyers in the first two months of 2024. This is a higher proportion than we have seen in recent years, with cash buyers accounting for less than 29% of market activity during 2019\u20132022. The increase is likely to be due to the higher cost of borrowing, which continues to put a strain on affordability for those purchasing a home with a mortgage.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Verona Frankish, CEO of online estate agents Yopa, commented, <em>\u201cNot only is it far tougher for those looking to purchase with the aid of a mortgage, but as a result, cash buyers are in a far stronger position within the market making them the first choice for many sellers.\u201d<\/em>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>It is likely that the balance of cash and mortgage buyers will be redressed when mortgage affordability improves.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Yopa, 2024&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.<\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The proportion of homebuyers choosing to pay in cash has hit a 10-year high1, analysis has found.&nbsp; In 2023, cash buyers were responsible for a third (34.5%) of all property transactions \u2013 the highest percentage seen since data became available in 2013. This trend carried on into this year, as 32.8% of market activity was [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":26533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26505"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=26505"}],"version-history":[{"count":2,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26505\/revisions"}],"predecessor-version":[{"id":26535,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26505\/revisions\/26535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/26533"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=26505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=26505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=26505"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=26505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}