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
- First-time-buyer market performs better than expected
- Resilience in jobs market strengthens mortgage demand
- Buy-to-let market remains sluggish
UK UNEMPLOYMENT FIGURES
- There were 32.08 million people in work, 56,000 fewer than for May to July 2017 but 325,000 more than a year earlier
- Jobless total at 1.43m
- Unemployment rate at 4.3%
HOUSE PRICES HEADLINE STATISTICS
- An annual price increase of 5.1%, which takes the average property value in the UK to £226,071
- The North East saw the largest monthly fall in value of 1%
- The West Midland Region saw the largest annual gain in value (7.2%) to Nov 2017