Mortgage Statistics

What are the latest statistics for UK mortgages?

Matthew Boyle
by , Mortgages & Utilities Publisher

After the financial crash in 2007/08 has the UK housing market recovered? We explore all the latest statistics to see if the market has bounced back or not and which mortgage lenders are currently offering the best deals.

Quick overview

What is the size of the mortgage market?

  • The outstanding value of all residential mortgage loans was £1,451 billion in 2019 Q1, 3.4% higher than a year earlier
  • The value of mortgage advances (gross) in Q1 2019 was £63.3 billion, 1.4% higher than a year ago
  • Over £245 billion was borrowed in 2016 for mortgages alone.
  • The value of new mortgages was £63.8 billion (Q1 2019), 4.5% higher than a year ago
  • The proportion of mortgages in arrears fell to its lowest amount since 2007, at 0.99%
  • There are 10.94 million outstanding mortgages in the UK (May 2019)

Types of mortgages compared

Types of mortgages compared

Mortgage TypePercentage of mortgages taken out in 2016Percentage of mortgages taken out in 2019
Homeowner83.3%86%
Buy-to-let16.7%14%

Average mortgage size

How big is the average mortgage in the UK?

  • Outstanding mortgage lending stood at £1.451 trillion in Q1 2019.
  • There are 10.94 million mortgages in the UK.
  • Based off of this, the average mortgage debt amounts to £132,633.

Average House Price

The average price of a house has been trending upwards since the financial crash. The average house price in April 2019 was £228,903, up from £225,750 in April 2018.

Average house price in the UK.

Average house price in the UK.

DateUK average house price
2005 Jan£150,633
2005 Feb£150,488
2005 Mar£151,723
2005 Apr£153,880
2005 May£155,533
2005 Jun£156,767
2005 Jul£158,786
2005 Aug£159,431
2005 Sep£159,183
2005 Oct£158,865
2005 Nov£159,337
2005 Dec£160,209
2006 Jan£159,970
2006 Feb£160,231
2006 Mar£161,531
2006 Apr£165,042
2006 May£166,606
2006 Jun£168,184
2006 Jul£170,604
2006 Aug£172,037
2006 Sep£172,738
2006 Oct£173,750
2006 Nov£174,644
2006 Dec£176,819
2007 Jan£176,758
2007 Feb£177,261
2007 Mar£178,636
2007 Apr£182,243
2007 May£184,330
2007 Jun£186,348
2007 Jul£188,691
2007 Aug£189,786
2007 Sep£190,032
2007 Oct£189,589
2007 Nov£189,489
2007 Dec£189,193
2008 Jan£185,782
2008 Feb£184,185
2008 Mar£182,845
2008 Apr£183,148
2008 May£184,267
2008 Jun£181,831
2008 Jul£179,845
2008 Aug£176,092
2008 Sep£171,660
2008 Oct£168,177
2008 Nov£163,447
2008 Dec£160,954
2009 Jan£157,234
2009 Feb£155,417
2009 Mar£154,452
2009 Apr£155,852
2009 May£158,004
2009 Jun£159,561
2009 Jul£162,423
2009 Aug£164,025
2009 Sep£165,314
2009 Oct£166,425
2009 Nov£166,986
2009 Dec£168,082
2010 Jan£167,469
2010 Feb£167,888
2010 Mar£167,878
2010 Apr£170,028
2010 May£170,846
2010 Jun£171,689
2010 Jul£173,427
2010 Aug£173,417
2010 Sep£172,972
2010 Oct£171,045
2010 Nov£169,013
2010 Dec£168,703
2011 Jan£167,300
2011 Feb£166,415
2011 Mar£165,649
2011 Apr£168,218
2011 May£167,470
2011 Jun£167,753
2011 Jul£169,866
2011 Aug£169,968
2011 Sep£169,544
2011 Oct£167,673
2011 Nov£167,757
2011 Dec£167,048
2012 Jan£165,908
2012 Feb£165,457
2012 Mar£165,947
2012 Apr£167,854
2012 May£168,395
2012 Jun£170,049
2012 Jul£170,701
2012 Aug£170,902
2012 Sep£170,295
2012 Oct£169,090
2012 Nov£169,227
2012 Dec£168,843
2013 Jan£167,716
2013 Feb£167,682
2013 Mar£168,681
2013 Apr£170,335
2013 May£171,234
2013 Jun£172,655
2013 Jul£174,592
2013 Aug£175,982
2013 Sep£176,098
2013 Oct£175,378
2013 Nov£176,352
2013 Dec£177,971
2014 Jan£178,182
2014 Feb£178,921
2014 Mar£179,537
2014 Apr£183,532
2014 May£185,476
2014 Jun£187,077
2014 Jul£189,709
2014 Aug£191,932
2014 Sep£192,138
2014 Oct£191,855
2014 Nov£191,209
2014 Dec£191,669
2015 Jan£190,665
2015 Feb£190,827
2015 Mar£191,537
2015 Apr£193,225
2015 May£195,313
2015 Jun£196,802
2015 Jul£200,141
2015 Aug£201,973
2015 Sep£202,389
2015 Oct£202,663
2015 Nov£204,222
2015 Dec£204,919
2016 Jan£205,404
2016 Feb£205,531
2016 Mar£207,279
2016 Apr£208,443
2016 May£210,872
2016 Jun£212,887
2016 Jul£215,127
2016 Aug£215,145
2016 Sep£214,816
2016 Oct£214,107
2016 Nov£215,113
2016 Dec£215,500
2017 Jan£215,084
2017 Feb£215,539
2017 Mar£215,078
2017 Apr£218,481
2017 May£219,792
2017 Jun£221,670
2017 Jul£224,554
2017 Aug£225,572
2017 Sep£224,729
2017 Oct£224,927
2017 Nov£224,287
2017 Dec£225,164
2018 Jan£224,378
2018 Feb£224,968
2018 Mar£223,612
2018 Apr£225,750
2018 May£226,670
2018 Jun£228,194
2018 Jul£231,080
2018 Aug£231,926
2018 Sep£231,432
2018 Oct£231,037
2018 Nov£230,161
2018 Dec£229,772
2019 Jan£228,242
2019 Feb£227,639
2019 Mar£227,217
2019 Apr£228,903

First-time buyers

Getting your foot on the property ladder is a major milestone in your life, but at what age are people buying their first home?

  • There were 370,000 first time buyer mortgages completed in 2018
  • This is 1.9% higher than in 2017
  • In fact, this is the highest number of first time buyer mortgages since 2006 (402,800)
  • The value of these mortgages totalled £62 billion
  • This is 4.9% higher than in 2017

Remortgage statistics

Remortgaging is the act of switching your existing mortgage to a new deal, this might be to raise some cash, reduce the interest rate on your mortgage or consolidate your debts for example.

  • There were 21,370 new remortgages with additional borrowing in May 2019
  • This is 19.8% more than in the same month in 2018
  • The average additional amount borrowed in May was £52,000
  • 19,650 were pound-for-pound remortgages (additional borrowing), nearly 20% more than in May 2018.

21,370

New remortgages with additional borrowing in April 2019

Mortgages in arrears

If your mortgage is in arrears it means your payments are overdue – this is expressed as a percentage of your total outstanding balance.

  • There are 76,580 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance (Q1 2019)
  • This is 4% lower than in Q1 2018
  • Within this total, 23,520 homeowner mortgages were in significant arrears (representing 10 per cent or more of the outstanding balance)
  • There are 4,620 buy-to-let mortgages in arrears of 2.5 per cent or more of the outstanding balance (Q1 2019)
  • 15 properties were repossessed every day in Q1 2019,
  • This amounts to one property every hour and 34 minutes
  • This is 3% higher than in Q1 2018

1 hour 34 minutes

Every hour and half a property was repossessed in Q1 2019.

Sources used

  • The Money Charity
  • UK Finance
  • CML
  • BSA

Related articles

Buy-to-let statistics

Buy-to-let statistics

We looked into the latest buy-to-let statistics to see how many of these mortgages have been taken out and how many Brits are living in rental properties in the UK. Read more…

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