Mortgage broker Habito comments on ONS UK House Price Index for March

Following today’s (22 May 2019) ONS UK House Price Index release, Daniel Hegarty, CEO of online mortgage broker Habito, has commented, saying:

“Despite house prices slowing down, recent Habito research shows cost is the biggest concern for would-be buyers across the nation: two thirds (65%) claim their biggest worry is money, rising to 71% for those located in the South of England. And, despite the prices of housing cooling down in the capital, competition between bidders is still high – we found that 17% of Londoners have to make offers on 3 or more homes before finally being accepted.

“An ‘average’ London house is more than double the national average house price – for a single first-time buyer in the city, that means a deposit of near £50,000 and a salary of £85,000. The availability of affordable housing and appropriate financing remain key issues for Government and the mortgage industry also has a responsibility to build suitable products around the changing face of home buying.”

Kindly shared by Habito