Property Market Fact File – June 2010

Land Registry Average Property Prices in England and Wales

The Average Price of a property in England and Wales is now £165,314 as at the end of May, 2010.

Source: Land Registry

Percentage Changes of Property Prices in England and Wales

The Monthly change between May and June in England and Wales was -0.2%.
The Annual change between May and June in England and Wales was 8.2%.

Source: Land Registry

Halifax House Price Index figures.

The average price of a house is now £167,750. House prices in May were 0.4% lower than in April. Despite this decrease for the second month in a row, house prices are still 6.9% higher than this time last year, measured by the average for the latest quarter against the same period a year earlier.

Source: Halifax/Lloyds TSB

Nationwide House Price Index figures

The price of a typical UK property rose by a seasonally adjusted 0.5% month-on-month (m/m) in May, making house prices 9.8% higher than a year earlier.

At £169,162, the average price of a typical property is now within 10% of 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

Regional trends in House prices.

Largest increase in June is in Greater London, where the average price was up by 2.2% to £429,597. (8.2% higher than June 2009)

Largest decrease is in the West Midlands, where the average price is down by 3.3% in June to £189,049 (but still 2.5% up on June 2009).

Source: Rightmove

Mortgage Lending by the Major UK Lenders

House Purchase Lending in May was £6 billion as against £4.4 billion in May 2009.  Same as in May 2008.

Source: Bank of England

New Mortgages granted

Gross mortgage lending totalled an estimated £11.3 billion in May, a 7% increase from £10.5 billion in April and up 10% from £10.2 billion in May 2009.

Source: Council of Mortgage Lenders