< 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

We can see Venus now the clouds have gone…

Lockdown lights path to brighter days These are dark days for our communities. Fear dogs our daily lives, with the bleak daily updates of coronavirus’ vice-like grip turning our accepted routines upside down and shrouds them in clouds of anxiety. Yet there is light at the end of the tunnel; with heavy emphasis on the …

Read more...

The Queen addresses the nation and says “better days will return”

On Sunday the Queen gave a televised address to the nation – only the fifth time she has done so during her 68-year reign Although she broadcasts a recorded message on Christmas Day each year, the only other times she has addressed the nation was during the First Gulf War in 1991, after the death …

Read more...

Keep celebrating with the ones you love

Don’t let lockdown stop you from celebrating the special events in your life with our handy guide… If you or a loved one has a birthday or another special event while stuck in lockdown, don’t despair, you can still throw them a party and make their day special. There are many ways you can put …

Read more...

Keep celebrating with the ones you love

Don’t let lockdown stop you from celebrating the special events in your life with our handy guide… If you or a loved one has a birthday or another special event while stuck in lockdown, don’t despair, you can still throw them a party and make their day special. There are many ways you can put …

Read more...

Free Kids Audiobooks on Audible

Audible, the audiobook website from Amazon is the latest company coming to the rescue to keep the kids busy while they’re off school. Here we have picked the best books available to listen to for free for children Littlest Listeners Winnie-the-Pooh, Volume 1, by A. A. Milne – This collection contains ten classic Pooh stories …

Read more...