Rightmove’s House Price Index Report May 2022

ProAktive www.selfbuildinsure.co.uk Rightmove's House Price Index Report May 2022 Rightmove is the UK's largest online real estate portal and property website . Their aim is to have an easier solution to moving homes by creating an efficient property marketplace that covers every area in the United Kingdom . The latest house price index report which was released by Rightmove for May 2022 , records vital data and results that could be of interest to property developers . In this infographic , we focus on some of the key statistics that have been picked out from their most recent report . Fourth new record puts prices £ 55,000 higher than pre - pandemic . In the two years before the pandemic , asking prices raised £ 6,218 , compared to the two years post - pandemic being at a £ 55,551 increase . £ Available properties are down 16 % compared to the previous year and down 55 % compared to 2019 - new stock is desperately needed for 2 + 3 bedroom semi - detached homes . Low interest rates make mortgage payments only 11 % higher Price of property average at £ 367,501 than 10 years ago & rental payments are 40 % higher . The average monthly mortgage payments are up by 2.1 % monthly , the highest since May 2014 . The number of buyers contacting estate agents monthly is 31 % higher than the 2019 market , however they are down 14 % year on year . £ 901 which is now higher than rental payments that now average at £ 887 Sales agreed are up 12 % year to date compared to the same period in 2019 , however they are down 17 % compared to 2021 . The average deposit size needed for a house has increased from £ 14,269 to £ 22,312 , a jump by 56 % ProAktive www.selfbuildinsure.co.uk ‒‒ 11 " This new analysis shows how it has become increasingly difficult for an average first - time buyer to afford a home on their own . The historic average mortgage payments for a first home provide some good context to the current backdrop of rising interest rates and help explain why so many people take out fixed - rate mortgages . As Interest rates are predicted to rise further during 2022 , many buyers will be looking to lock in mortgage deals now before further rate rises . " John O'Malley , CEO at Pacitti Jones in Glasgow # 1 What Insurance do Property Developers Need ? If you're looking to be a potential property owner or developer , you might need an insurance policy . ProAktive can cover essential or optional insurance for your property . To find out more about what insurance property developers need , please visit : www.selfbuildinsure.co.uk/what-insurance-do-property developers - need Doncaster : 01302 346 831 | Follow us > ●●