Mortgage payments and house prices in Cornwall

The Office for National Statistics release details of mortgage payments and house prices on a monthly basis.  The latest figures are illustrated below. For more information and updates visit the interactive maps section in the ONS website.

 

Overview

Average payments on five year fixed mortgages,(deposit of £30,000 and for 25 years), are:

Detached property = £2,476

Semi-detached =  £1,551

Terraced = £1,247

Flat = £800.

 

Property                   Prices     Change since 2019

Detached property = £436k.     +29%

Semi-detached      =  £294k      +31%

Terraced                = £242         +30%

Flat                        = £166k       +19%

 

Full details below

 

 

 

 

 

What the map shows

This calculator features house prices from the UK House Price Index (HPI) and interest rate figures from the Bank of England database, showing how monthly mortgage repayments vary and are changing across the country.

The mortgage costs shown on the map represent the amount you would pay per month, assuming:

you purchase a property at the average (mean) price in a given area

you secure the average mortgage rate being offered by mortgage lenders at the time, at the mortgage term length selected in the calculator options

you supplied the user-defined deposit amount.

 

The costs shown apply to the initial fixed rate period of the mortgage, which defaults to a five-year period on the map.

This map is useful for tracking the ongoing cost of mortgage repayments, a key figure in household’s budgets, when buying a property.

The figures in this map will be updated each month, alongside the monthly release of the UK HPI.

 

In the calculator we use average mortgage rates for 60%, 75%, 90% and 95% loan-to-value ratios and apply one of these based on the deposit specified in the tool. We treat these as thresholds that we round up to until the next threshold is hit. For example, if the deposit entered resulted in a 63% loan-to-value ratio the map would use the average rate at a 75% loan-to-value.

 

https://www.ons.gov.uk/peoplepopulationandcommunity/housing/articles/howaremonthlymortgagerepaymentschangingingreatbritain/2023-03-08