Property Review – November 2016

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 reached £20.5 billion in September
  • Highest September gross mortgage lending figure since 2007
  • Q3 2016 lending 11% higher than Q2

UK UNEMPLOYMENT FIGURES

  • Unemployment rate at 4.8%, lowest since July / September 2005
  • There were 31.8 million people in work
  • ƒƒ23.24 million people working full-time and 8.56 million part-time

HOUSE PRICES HEADLINE STATISTICS

  • Housing market indicators for September suggest a period of relative stability
  • ƒAverage UK house price now stands at £217,888
  • ƒƒRICS reports modest increase in new buyer enquiries