< Back to blog

Housing affordability improves Posted On 27 February 2019

According to Rightmove’s House Price Index for February 2019, the national average asking prices of newly-marketed property has risen by 0.7% (+£1,981) during February

This rise is said to be consistent with the recent norm for this time of year which saw an average 0.6% February uplift over the previous two years. However, Rightmove has indicated that as we enter the traditionally more buoyant spring market, the average annual rise of 0.2% (+£714) is the most subdued that they have recorded at this time of year since 2009.

As a result of this, and with average wage growth now running at an annual rate of 3.4%, buyer affordability is said to be improving at the fastest rate against average new seller asking prices since 2011.

“Longer daylight hours and green shoots appearing in gardens herald the start of the traditionally more buoyant spring market,” comments Miles Shipside, Rightmove director and housing market analyst.

“Sellers’ subdued pricing is now being outstripped by higher average wage growth, meaning that buyer affordability is on the rise at the fastest rate in nearly eight years. Buyers are also being given the leg-up by cheap mortgage rates, if they can meet lenders’ criteria and lay their hands on a large enough deposit.”

< Back to blog

Connect with us

Recent Posts

Prepare your garden for spring

Whether it’s weeding, pruning, clearing leaves or decorating your garden, it’s important to dig in now in order to enjoy your garden in the spring and summer months Clean up flower beds & borders Begin by removing any fallen leaves and debris from flower beds, lawns, pathways and ponds that have accumulated throughout winter. Once …

Read more...

Optimism in property market increases

Since the election back in December, recent statistics have shown that there has been increased optimism in the property market from buyers and sellers alike. Between the period 8th December and 11th January, almost 65,000 properties were marketed. And with the election having been held on 12th December, many of these were marketed after the …

Read more...

Incorporating the basics of feng shui into your home

Feng shui can easily be incorporated into any home, creating a better quality of energy. So, just what is feng shui? Developed over 3,000 years ago in China, Feng shui teaches people how they can balance the energies in any space with the arrangement of objects. This could be a home, office or garden. In …

Read more...

Cheapest supermarket of 2019 revealed

Sainsbury’s has been crowned as the cheapest supermarket. A study by the Which? Consumer group revealed that the supermarket chain came top after tracking thousands of branded grocery prices across the six major supermarket chains throughout 2019. The data was collected by monitoring online pricing of branded items that were available in all supermarket chains; …

Read more...

Enjoy a takeaway the healthy way!

Vegetable curry You don’t need to give up your curry nights just yet; stay on track with your healthy eating plan with this low-fat, vegetarian dish. Preparation time: 10 minutes Cooking time: 35 minutes Serves: 4 Nutrition: 207kcal per serving   Ingredients 1-2 tbsp red Thai curry paste 500ml low-sodium vegetable stock 2 onions, chopped …

Read more...