Rightmove House Price Index (May)
The latest Rightmove House Price Index report headlines buy-to-let feast leaves higher prices for first time buyers.
Modest May rise of 0.4% (+£1,118) in price of property coming to market in the last month masks nasty spring surprise for first-time buyers.
An 80% uplift in March transaction numbers has left behind a property drought and price surge: 6.2% (+£11,298) monthly jump in price of typical first-time buyer properties.
Strong demand continues in this sector despite withdrawal of many investors following introduction of higher stamp duty taxes, yet new-to-the-market supply is down 1.5% year- on-year
First-time buyer regional hotspots led by Croydon, Dartford and Luton, all with annual surges of over 18%.
To read the Rightmove House Price Index report in full for May click here