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 for July is estimated at £23.0 billion
- Accounting for seasonal factors, this figure is above the average lending figures seen over the past year
UK UNEMPLOYMENT FIGURES
- (those without a job who have been actively seeking work in the past 4 weeks and are available to start work in the next 2 weeks. It also includes those who are out of work but have found a job and are waiting to start it in the next 2 weeks) was 4.3%, down from 4.9% a year earlier
- Jobless total at 1.46m
- Unemployment rate at 4.3%
HOUSE PRICES HEADLINE STATISTICS
- UK house prices grew by 5.1% in the year to July 2017
- The highest annual growth was in the East Midlands (7.5%)
- The slowest annual growth was in London (2.8%) in the 12 months to July 2017