Annual price growth has strengthened across the UK in recent months
Most active housing markets across the South East Home Counties
At £342,271 the average price of a property in the South East of England is £20,000 more expensive than a year ago and activity across the market is robust. On average 3.6% of private properties are sold each year, with turnover across five areas 4% or more. Over 18,300 new homes were registered for sale during 2020, and nationally registrations have been on an upward trend since September.
First-time buyers were particularly affected by the closed housing market and the stricter mortgage lending that followed. However, buyer numbers have recovered steadily, with transactions just 2% lower year on year during the final six months of 2020 (UK Finance). The number of High Loan-to-Value (LTV) mortgage products has also increased, Moneyfacts reporting there were 169 products available at 90% LTV in January, over double the number available back in July. Lending rates remain low, the average mortgage rate the lowest in history.