Can buying a home in cash save house buyers £28,000 in the UK?

The UK housing market had its best year since 2021 last year, a new survey shows, but economists are concerned that cracks are starting to show. According to Halifax, UK house prices rose 3.3 per cent across 2024 as a whole, with the majority of the house price growth coming in the second half of the year. However, if you are buying in cash, you can now pay £28,000 less on average for a home than those relying on a mortgage, and the ‘cash discount’ has risen by 12.4 per cent in just two years, according to Mowered Mortgages (MM). Read more of the story here 👇 1. https://www.cityam.com/why-is-it-so-much-cheaper-to-buy-houses-in-cash/ 2. https://www.cityam.com/uk-house-prices-climb-at-fastest-rate-since-2021-as-impact-of-budget-lingers/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Amber Murray, Joseph Curay Teneda, Emmanuel Nwosu