Property trends revealed in Rightmove’s ‘Little Blue Book’Make Text Bigger
After months of data crunching, detailed analysis and the relentless colouring-in of graphs, we’re happy to announce that the second edition of our Little Blue Book is now out in the wild.
Leading with the rather optimistic headline of ‘The recovery has taken hold’, the Little Blue Book is designed as a companion to the UK property market and covers everything from new property supply to mortgage approvals, help to buy to consumer confidence.
At over 60 pages long there’s a lot to digest, but the key headline are as follows:
- A property with an asking price of £170,000 in 2003 would have an asking price today of £235,983 just as a result of inflation. In real terms, the average asking price in England and Wales is just 4% higher than it was in 2003.
- Four in five home movers think that the average asking price will be higher in one year’s time – the highest figure since January 2009.
- Transaction in Q3 2013 were 21% up in both England and Wales compared to Q3 2012.
- 96% of tenants still ‘dream of owning a home someday’ and 70% say ‘they will never stop trying’ to make their dream a reality.
- In the nine months to September 2013, the monthly rate of mortgage approvals increased to nearly 60,000 – up 25% on the monthly average of the previous four years.
- The rate at which new rental properties are added to Rightmove is on the increase – new supply in October was 7% up on 2012 and total available stock up 8%.
- 42% of home owners who claim to understand the Help to Buy scheme believe that phase 2 applies only to first-time buyers and 24% believe that it is available only for buyers of new build properties.
As an exclusive for Property 118, we have also put together a graph demonstrating how consumer confidence in the housing market has changed between 2009 and 2013.
Oops! We could not locate your form.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.