• RESONATE PROPERTY

May 2019 House Price Update

UK Housing Price and Market Update for May 2019

UK House Price Updates

Monthly Change

- 0.2%


Quarterly Change

+ 0.3%


Annual Change

+ 0.6%


Average Price Paid

£214,946


  • Transactions and number of mortgages approved remain broadly stable in May.

  • The market has seen slight shifts in the favour of buyers thanks to lower volume of stock coming to market.

  • Stable growth of First Time Buyers entering the market, standing at 359,000 in the twelve months to March 2019.

  • Prices are still high compared to earnings but low mortgage rates are supporting affordability.

  • Potential FTB’s setting aside 15% of their monthly income would take around 6 years to save a 20% house deposit in the Yorkshire and Humber area, compared to over 15 years in London.

  • Low mortgage rates for smaller deposits are helping to keep transaction numbers stable, allowing earlier entry to the market by reducing cost advantages of saving for larger deposits.

Source of UK Property Price Data ‘Annual Change’, ‘Quarterly Change’, ‘Monthly Change’, ‘Average Price’ and ‘Average Mortgage Rates’ - Nationwide House Price Index.

Please note that the use of the above information and commentary is subject to both the Nationwide Legal Terms (https://www.nationwide.co.uk/about/house-price-index/headlines) and also where applicable, the Terms and Conditions found on our website www.resonateproperty.co.uk.

Talk to us

If you'd like to discuss private lending, property investment opportunities or how we could help you, please get in touch.

Take an Online Consultation

What would you like to explore?

Member of:

more than bricks and mortar

TM

HOME

TOP

  • RESONATE PROPERTY YouTube
  • RESONATE PROPERTY Facebook
  • RESONATE PROPERTY LinkedIn

Sheffield, England, United Kingdom.

© 2020 RESONATE PROPERTY