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
- “The mortgage market is seeing a pre-summer boost, driven by a rise in the number of first-time buyers and strong remortgaging activity. It is also particularly encouraging to see an increase in homemovers, after a period of relative sluggishness in this important segment of the market.”
Jackie Bennett, Director of Mortgages at UK Finance
HOUSE PRICES HEADLINE STATISTICS
- UK house prices rose by 3.0% in the year to May 2018
- This is the lowest UK annual rate since August 2013 when it was also 3.0%
- The East Midlands was the fastest growing region with an annual house price growth rate of 6.3%