Mortgage guarantee scheme – Rightmove’s latest average 5% deposit and price growth

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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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