Rightmove have released their latest findings on the UK property market, showing a 7.6% increase in the average property price on an annual basis in January. Since December last year, house prices have risen by 0.3%, now at an average of £341,019. The last time a growth rate of this magnitude was seen was May 2016. The data showed an escalation of 6.8% in house prices on an annual basis for first-time buyers, 1.4% monthly, which brings the average house price to £214,176 for those entering the property market for the first time. Illustrating the current gap between supply and demand, the figures also show an all-time low of just 12 houses for sale per estate agent branch, compared to a rise in buyer enquiries of 15% annually. Valuation requests in January had increased by 48% since January of 2020.
MT Finance recently appointed their first non-executive director, Chris Patrick, to assist with MT Finance’s growth plans, focusing on funding strategy, ESG initiatives and technology. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/rightmove-data-shows-jump-in-average-house-price/ from https://commercialmortgages2.tumblr.com/post/673817349972017152
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