BBC News - Cash buyers drive the housing market
There has been a huge rise in the proportion of home buyers paying for their new homes in cash.
Figures compiled by the Council of Mortgage Lenders (CML) show that in January 2011, nearly 40% of buyers did not need a loan to buy their home.
This means the proportion of cash buyers has more than doubled since 2005, when the records began.
This in turn suggests the market is increasingly the domain of the cash-rich, with many other buyers shut out.
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