Property Market Fact File – May 2010

Land Registry Average Property Prices in England and Wales

The Average Price of a property in England and Wales is now £164,288 as at the end of March, 2010
Source: Land Registry

Percentage Changes of Property Prices in England and Wales

The Monthly change between March and April in England and Wales was -0.6%.
The Annual change between March and April in England and Wales was 7.5%.
Source: Land Registry

Halifax House Price Index figures.

The average price of a house is now £168,202. House prices in April were 6.6% higher than a year ago. This was the largest increase in the annual rate of change – measured by the average for the latest quarter against the same period a year earlier – since October 2007 (8.9%).
Source: Halifax/Lloyds TSB

Nationwide House Price Index figures

The price of a typical UK property rose by a seasonally adjusted 1.0% month-on-month (m/m) in April, leaving house prices 10.5% higher than a year earlier. April’s figures show the first double-digit annual growth in UK house prices since June 2007.
At £167,802, the average price of a typical property is still 10% lower than the peak in October 2007.
Source: Nationwide

Bank Lending Rate

As widely predicted, the Bank of England Monetary Committee confirmed that the Bank Base Rate is to remain at 0.5% for a further month.  It has been at this level since 05th March, 2009.
Source: Bank of England

Mortgage Lending by the Major UK Lenders

House Purchase Lending in March 2010 was £5.6 billion as against £3.8 billion in March 2009.  Still lower than £7.1 billion in March 2008.
Source: Bank of England

Outstanding Mortgage Debt

Average outstanding mortgage for the 11.1m households who currently have mortgages now stands at £111,590.
Source: Credit Action

New Mortgages granted

The number of new mortgages taken out was 49,000 in March 2010, up by 25% on February, and 45% on the same time last year.
Source: Council of Mortgage Lenders