Home movers have overtaken first-time buyers as the drivers of the housing market.
Mortgage completions for movers rose by 82% in Q1 compared with the same period in 2020, while completions for first-timers rose by 31%. Mover-completions in March alone were up 142%.
The latest figures suggest a reversal of the long-term balance of activity between home movers and first-time buyers, breaking a pattern which UK Finance said dated back more than a decade.
