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
- There were 26,700 new first-time buyer mortgages completed in the month, 3.5% higher than April 2017
- “The number of first-time buyers has grown year on year, outstripping the number of homemovers”
- There were 5,000 new buy-to-let house purchase mortgages completed in the month, 5.7% fewer than April 2017
HOUSE PRICES HEADLINE STATISTICS
- UK house prices rose by 3.9% in the year to April 2018
- London was the slowest growing region at 1%
- The South West was the fastest growing region with an annual growth rate of 6.1%