Post Office Money comments on ONS House Price Index

Chrysanthy Pispinis from Post Office Money comments on House Price Index issued 17 October 2018 by the Office of National Statistics (ONS).

“Despite the continued overall slowdown in house price growth, there are areas in the UK that are still seeing strong growth year-on-year. Cities such as Manchester and Leicester have seen 9% growth in the last year, though this shouldn’t deter first-time buyers (FTBs) as properties in these areas still remain affordable¹ for new buyers. Other cities which are continuing to see growth and provide affordable options for FTBs include Portsmouth and Southampton, both with 8% growth over the last year². Three in five (63%) recent FTBs compromised on location to get their foot on the ladder, proving that buyers can find their first home and make their money go further by doing their research³.”

¹ Percentage of properties affordable to FTBs. Full data for over 80 locations available on request

²Full data for over 80 locations available on request

³Opinium Research carried out an online survey of 1,010 recent first-time buyers (those who purchased their property in the past 24 months) aged 18+ from 08 to 14 August 2018

Kindly shared by Post Office Money