Posts by Rightmove
Victorian homes reign as most sought-after period property style
The allure of Victorian architecture continues to captivate homebuyers, as new data from Rightmove, the UK’s number one property website, unveils that Victorian homes are the most searched for period property style. Rightmove’s Keyword Sort tool highlights the wider popularity of historic and unique properties, with ‘character’ and ‘period’ ranking in the top twenty most…
Read MoreAverage 5-year fixed mortgage rate now above 5% for first time since January – Rightmove’s weekly mortgage tracker
Headlines The average 5-year fixed mortgage rate is now 5.02%, up from 4.56% a year ago The average 2-year fixed mortgage rate is now 5.41%, up from 4.84% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.93%, up from 4.52% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.52%, up from 4.23% a year ago The average monthly mortgage payment on…
Read MoreRightmove’s weekly mortgage tracker – 02/05/24
Matt Smith, Rightmove’s mortgage expert said: “Next week’s Bank of England meeting will be quite key for setting the tone for mortgage rates leading into summer. An uneasy few weeks for the world economy has meant that there is still a lot of uncertainty around when we might see the first interest rate cut – and…
Read MoreAn average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Headlines The average 5-year fixed mortgage rate is now 4.89%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.29%, up from 4.75% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.82%, up from 4.42% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.36%, up from 4.15% a year ago The average monthly mortgage payment on…
Read MoreAberdeen is cheapest city to be a first-time buyer
New analysis reveals that Aberdeen is the cheapest city to be a first-time buyer with an average asking price of £102,602: The average monthly mortgage payment for a first-time buyer in Aberdeen is £406 per month, assuming the buyer has a 20% deposit, and a mortgage term of 35 years Data from UK Finance shows…
Read MoreSpring activity boost pushes asking prices close to new record
The average asking price of property coming to the market rises by 1.1% (+£4,207) this month to £372,324, just £570 short of the record in May 2023, while the annual rate of price growth is now +1.7%, the highest level for 12 months: A key factor behind this growth towards a near-record average price is…
Read MoreRightmove’s weekly mortgage tracker 17/4/24
Headlines The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago The average 60% LTV 5-year fixed mortgage…
Read MoreRightmove comment on inflation reducing to 3.2%
UK inflation slowed less than expected last month, making traders and economists more cautious about the likely pace of interest rate cuts. Matt Smith, Rightmove’s mortgage expert said: ‘It’s positive to see inflation continuing to fall this morning, albeit not by quite as much as expected, as the blocks continue to build towards the anticipated…
Read MoreRightmove’s Weekly Mortgage Tracker 10/4/24
Headlines The average 5-year fixed mortgage rate is now 4.84%, up from 4.49% a year ago The average 2-year fixed mortgage rate is now 5.22%, up from 4.82% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.79%, up from 4.50% a year ago The average 60% LTV 5-year fixed mortgage…
Read MoreRightmove reveals Easter new seller surge
Thursday 28th March was the biggest day for new sellers coming to market so far this year, and the third biggest day since August 2020 Rightmove reveals price growth in each region versus March 2020, with Wales the strongest performing region (+29%), and London recording the lowest price growth (+8%) New data from the UK’s biggest…
Read MoreRightmove comment on new 99% first-time buyer mortgage product
Matt Smith, Rightmove’s mortgage expert said: “It’s encouraging to see lenders continuing to try to innovate in the mortgage market, even after the government abandoned its own plans to encourage lower deposit mortgages in the Spring Budget. This new product has the potential to help some first-time buyers who fit the affordability criteria, but are struggling…
Read MoreRightmove reaction to Base Rate hold
At its meeting ending on 20 March 2024, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 8–1 to maintain Bank Rate at 5.25%. Matt Smith, Rightmove’s mortgage expert said: “Although today isn’t the day for the first Base rate cut, each day that passes is one step closer, and it’s…
Read MoreChard in Somerset is new sales hotspot and detached houses make a comeback
New data reveals that Chard, a town in Somerset, is the new sales hotspot, with the number of sales agreed more than doubling (+123%) compared to this time last year Hilton, in Derby is second in the list of hotspots (+112%) and Padgate in Warrington is third (+112%) Overall, the number of sales being agreed…
Read MoreRightmove’s Weekly Mortgage Tracker 20/3/24
Mortgage rates tick up slightly but inflation news suggests positive trends ahead Headlines The average 5-year fixed mortgage rate is now 4.85%, up from 4.62% a year ago The average 2-year fixed mortgage rate is now 5.23%, up from 4.96% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.79%, up…
Read MoreRightmove reaction to inflation dropping to 3.4%
Official data published by the Office for National Statistics this morning showed inflation had fallen from four per cent in January to 3.4 per cent in February. Matt Smith, Rightmove’s mortgage expert said: “Today’s news is positive, and every day is one step closer to when we might see the first Base Rate reduction, and…
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