Welsh first-time buyers jump 14%
Data from the Council of Mortgage Lenders showed the number of loans advanced to new buyers in Wales was 12,100 in the year, 14% higher than during 2013.
The value of these loans also grew, rising by a fifth to reach £1.3bn in the calendar year.
In line with the rest of the UK most other mortgage types saw growth during 2014. The number of loans granted for house purchase rose 9% to 26,200 with the value of these loans growing 15% to top the £3bn mark.
Some 14,000 loans to house movers were completed, up 4% and worth 11% more than the previous year.
However, as with the rest of the country, the remortgage market faltered. The number of loans slumped 13% to 12,800 while the volume dropped by 7% and totalled 12,800.
Overall mortgage lending in Wales accounted for 2.8% of the UK’s total, marginally down on 2013.
In the last quarter of the year first-time buyers in Wales borrowed £330m to purchase a house, this total represents 3,200 loans. Elsewhere the number of home movers loans declined quarter-on-quarter to reach 3,700, valued at around £500m.