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 4% higher than a year ago
- CML says: “First-time buyers and remortgaging appears to be buoying the market, we expect this trend to continue over the coming months”
UK UNEMPLOYMENT FIGURES
- Unemployment rate remains at 4.6%
- 8.85 million economically inactive people
- There were 31.95 million people in work
HOUSE PRICES HEADLINE STATISTICS
- Average house price stands at £220,094
- East of England experienced highest annual change at 8.1%
- Average London house price is £482,779, an annual increase of 4.7%