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
- UK Finance estimates that gross mortgage lending reached £22.1 billion in June
- Gross mortgage lending for Q2 increased 3% on Q1
UK UNEMPLOYMENT FIGURES
- 32.07 million people in work, 125,000 more than for January to March 2017
- 883,000 people (not seasonally adjusted) in employment on “zero-hours contracts” in their main job, 20,000 fewer than for a year earlier economically inactive
- Jobless total at 1.48m
- Unemployment rate at 4.4%
HOUSE PRICES HEADLINE STATISTICS
- Average house price stands at £223,257
- UK House prices grew by 4.9% in the year to June 2017
- While the annual growth rate has slowed since mid-2016 it has remained broadly around 5% during 2017