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Rightmove House Price Index May 2019

Rightmove House Price Index May 2019

'The Rightmove House Price index provides a market snapshot from estate agents across the country, so provides us with an interesting insight into consumer behaviour. Looking at this months’ data, the fact that Wales, the East and West Midlands and the North West are reported to have been ‘star performers’ again over the last month isn’t entirely surprising. Localised factors, such as the recent lifting of tolls on the Severn Bridge and the ongoing infrastructure improvements around the Mersey Gateway are likely to be a contributing factor to the sustained levels of buyer demand in these areas. Elsewhere, however, according to the Rightmove data, the diverging market picture seems to be continuing and consistent on the previous twelve months or so, which again isn’t exactly unexpected.

 

"What does appear to be clear is that, regardless of region, there is still a discernible level of buyer and seller activity as pent-up demand appears to have given way to a degree of commitment. That said, in some areas it appears to be more of a ‘needs driven’ market, whilst the majority of discretionary movers still spectate from the side-lines. However, for those whose individual circumstances dictate that they need to move home, the current highly competitive mortgage market is likely to provide support in the form of near-record low product rates, and lenders who are very much ‘open for business.”