Our monthly property market review is intended to provide background to recent developments in the property markets as well as to give an indication of how some key issues could impact in the future.
Overview
MORTGAGE ACTIVITY
- Gross mortgage lending 19% lower than March 2016
- “Mortgage lending appears to be in neutral gear” says CML
- “We do not expect any marked effect from the General Election”
UK UNEMPLOYMENT FIGURES
- Unemployment rate at 4.7% down from 5.1% a year earlier
- Lowest unemployment level since August 1975
- There were 31.84 million people in work; up 312,000 from a year earlier
HOUSE PRICES HEADLINE STATISTICS
- Average house price in England stands at £234,466
- East of England houses saw a 10.3% annual price rise
- Flats and maisonettes showed a 7.2% annual price rise