Mortgage guarantee scheme – Rightmove’s latest average 5% deposit and price growth
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
|Annual change||5% deposit||10% deposit|
|East of England||£363,974||£353,078||3.1%||£18,199||£36,397|
|Yorkshire and The Humber||£202,809||£197,344||2.8%||£10,140||£20,281|
Note, the London average asking price is above the proposed £600,000 threshold.