More than half of property transactions now being paid for with cash

More than half of property transactions now being paid for with cash

New research from estate agency Savills has found that 57% of transactions are now being paid for in cash.

The research by former CSO statistician John McCartney has shown that more than half of all sales are now being completed without a mortgage – up from fewer than 5% in 2010.

Mr McCartney said that cash buyers were helping to drive prices up and were squeezing families who need mortgage finance out of the market.

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