Houses being bought by people who can afford them, show figures

author avatar by 13 years ago

Figures compiled by the Council of Mortgage Lenders (CML) have revealed that a significant number of people buying houses are people that can afford to buy houses.

Robert Bartlett, the chief executive of Chesterton Humberts estate agency said that figures also showed that people who don’t have enough money to buy houses have found themselves in a position where they can’t afford to buy a house.

Experts have said that the figures show that this suggests the market is increasingly the sole domain of those people who have the required funds to carry out a house purchase.

“What we have discovered is that a house that is for sale will require a particular sum of money to change hands in order for the sale to be completed.” Said Mr Bartlett.

“People that have that particular sum of money are 100% more likely to complete the transaction than somebody who doesn’t have the money.”

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People with money still buying houses

The people driving this trend are “typically people with enough money to buy a house” according to independent housing expert, Henry Pryor.

“What our research has shown is that having more money readily available is a clear advantage when it comes to buying a house.” He concluded.

Landlords, who make lots of money by buying property to rent to people who don’t have lots of money and then later sell for a nice profit, have been buoyed by the findings with one revealing “Aaahahahahahahah!”

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