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
- “Remortgaging continued to dominate in June with borrowing figures up 13% on the same period last year as existing two and three year products came to an end and borrowers opted for new deals. Despite a boost in recent months, speculation of a base rate rise saw the market remain relatively subdued with year-on-year declines in activity among both first time buyers and homemovers as customers adopted a ‘wait and see’ approach.”
Jackie Bennett, Director of UK Finance Mortgages at UK Finance
HOUSE PRICES HEADLINE STATISTICS
- UK house prices rose by 3.0% in the year to June 2018
- West Midlands was the fastest growing region with an annual growth rate of 5.8%
- London was the slowest growing region, falling by 0.7% in the year to June 2018