Mortgage guarantee scheme – Rightmove’s latest average 5% deposit and price growth
March 1, 2021
A mortgage guarantee scheme is set to be announced at the budget for all buyers up to £600,000, we’ve put together the latest figures on asking prices and how many properties could be eligible under the scheme.
- 86% of properties up for sale have an asking price of £600,000 or less
- Since the 2013 Help to Buy mortgage guarantee scheme was first launched, national asking prices have increased by 29% from £246,748 in October 2013 to £318,580 in February 2021
- Since the 2013 Help to Buy mortgage guarantee scheme was first launched, national asking prices for first-time buyer properties have increased by 36% from £147,464 in October 2013 to £200,692 in February 2021
- The national average asking price for all properties is currently £318,580, which is 3.0% higher than February 2020
- The national average asking price of a first-time buyer property is £200,692, which is 3.6% higher than February 2020
The average asking price and average 5% deposit and 10% deposit by region for all properties is as follows:
| Region | Average Asking Price Feb-21 | Average Asking Price
Feb-20 |
Annual change | 5% deposit | 10% deposit |
| East Midlands | £236,453 | £229,099 | 3.2% | £11,823 | £23,645 |
| East of England | £363,974 | £353,078 | 3.1% | £18,199 | £36,397 |
| London | £621,886 | £629,053 | -1.1% | £31,094 | £62,189 |
| North East | £159,430 | £151,206 | 5.4% | £7,972 | £15,943 |
| North West | £215,561 | £200,985 | 7.3% | £10,778 | £21,556 |
| South East | £414,445 | £404,114 | 2.6% | £20,722 | £41,444 |
| South West | £318,449 | £308,106 | 3.4% | £15,922 | £31,845 |
| West Midlands | £240,789 | £231,893 | 3.8% | £12,039 | £24,079 |
| Yorkshire and The Humber | £202,809 | £197,344 | 2.8% | £10,140 | £20,281 |
| National | £318,580 | £317,058 | 3.0% | £15,929 | £31,858 |
Note, the London average asking price is above the proposed £600,000 threshold.
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