Gross lending in Northern Ireland for house purchases increased by 41% to £240m in quarter one year-on-year, statistics from the Council of Mortgage Lenders has shown.

Growth in England was slightly behind with a 38% uplift in the value of lending for house purchases worth £21.35bn in quarter one, with lending in Greater London accounting for £5.6bn.

Scotland and Wales both saw a 31% year-on-year rise in house purchase lending; with £1.47bn and £640m of loans advanced in Q1 respectively.

England saw the biggest rise in first-time buyer lending in Q1 of £8.6bn with a 50% increase year-on-year.

Scotland followed with £580m of lending representing a 45% increase, Northern Ireland with £130m of first-time buyer lending, a 44% rise and Wales with £260m, a 37% increase.

Read the full article via Northern Ireland leads growth in Q1 house purchase lending – CML.