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

Rightmove logo

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.

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Estate Agent Talk

How to Buy a Property in Today’s Competitive Market

Introduction It is common knowledge that the current real estate market is thriving, particularly in Florida. It is always highly in demand, and prices are rising due to the influx of people by the hundreds of thousands and even the millions. You are now perplexed about how you will ever be able to buy a…
Read More
US Flag
Breaking News

Is the state of Georgia a good place to retire?

Introduction Florida and Georgia have been friendly rivals for a long time, probably most famously on the football field where the universities of the two states compete against one another yearly. But Florida and Georgia are also engaged in a fresh competition over which state offers a superior environment for retirees. You are lucky since…
Read More
Overseas Property

Moving to Vancouver: Is living in Vancouver pricey?

Introduction One of the cities in Canada and all of North America with the highest population density in Vancouver. It is the most culturally and linguistically diverse city in Canada and the third-largest metropolitan area in the country. Since 2014, the city has been the permanent location for TED conferences and has hosted several international…
Read More
how to present your property for sale
Overseas Property

The Top 5 Real Estate Agents in Mississauga

Looking for a real estate agent in Mississauga? Look no further! We have compiled a list of the top 5 agents in the city, based on their experience and success rate. Whether you are looking to buy or sell property, these agents will be able to help you achieve your goals. Contact one of them…
Read More
Finance

Real Estate Copywriting Guide: 5 Tips For More Sales

Content related to real estate takes an important place in the thematic sections of copywriting. People always buy, sell or rent housing, which means this topic never loses relevance. However, real estate content cannot be called simple, but if you want big sales, you need to improve in this area, and you can learn how…
Read More
Breaking News

BREAKING PROPERTY NEWS – 05/08/2022

Daily bite-sized proptech and property news in partnership with Proptech-X.   Half of tenants who fear never owning own home face uphill battle in pet-averse rented sector New research from animal welfare charity Battersea reveals that one in two tenants fear they will never buy a home, with the growing number of lifetime renters significantly…
Read More