The may reports of property prices in the UK

For the fifth consecutive month the monthly increase in property prices in England and Wales has led to the fact that average values have increased by 9.1 percent, is more than £20000 from the beginning of the year, according to data on price indices for the English estate, published today, may 20, 2013.

A monthly index of property prices in the UK set a national record, the average of which reached the level of 249941, and sellers rush to put new objects at inflated prices, raising the price by 2.1% for the month, which is numerically equal to £5135. This is the highest starting price since 2004.

Price growth in the South of the country is catching up with London, an unprecedented growth in home prices reached the South-Eastern and Eastern England. In London the average price of residential property easily passed the mark of £500000, still exceeding typical indices of average prices for residential property around the country more than doubled and an increase in may, compared with April, to a record 3.1 per cent.

Of course, in the context of specific areas of London painting prices for residential property in London is not so straightforward. In Camden recorded the highest growth of 7.2% in Brent 5.9%. in South-West London – Kingston upon Thames, recorded a price fall of 0.5% in the East, in Greenwich, also noted the decline in prices by 0.1%.

Such stunts prices show mainly, according to analysts, at the expense of his own rich generation who has some southern roots. But the real estate market of the London has some preferences – demand and without expensive luxury housing of high quality.

However, despite the fact that the national index hit record, this is not the case when we can say the recovery on all fronts.

Only two Northern region Yorkshire and the East Midlans that still can’t show prices higher than this time a year ago. Outside of London still have a lot of messages from real estate agents that the market is extremely sensitive to price and quality, and buyers do not take the time in search of the perfect home.

The recession significantly affected the behavioral model of property buyers in the UK. They began to pay attention not only on prices but also on the liquid capacity of purchased property – the financial crisis has forced all to think about what we need to more closely approach the assessment of the liquidity of their assets.

Lenders are rubbing their hands in anticipation of “removing cream” from the influx of new customers that are sure to appear with courtesy of the government loan Fund and are willing to lower mortgage rates to 2.34% at payment of 25% Deposit and to 2.19% in the form of lending “interestonly” for those who can pay the 50% Deposit.

Thus, the property market in the UK gets the available cheap money, and that was a key factor in the positive market sentiment. And because the index Righmove showed 84% confidence that the prices for 12 months will be higher, it gave the impetus for decision-making in favor of shopping.

However, demand is constrained by limited construction of new homes. According to Righmove, the number of new homes placed on the market in the first 5 months of 2013, 3% less than the number of homes placed on the market in 2012 over the same period. This was to put pressure on prices, resulting in prices record records.

Righmove studied the activity of buyers in April 2013 and the study showed that the activity of buyers increased by 20% compared to April 2012. Discerning buyers who are not able to find an acceptable option for them, viewed in April 2013, a record 1.25 billion pages. With 400 million pages were viewed via mobile devices. It is clear that people are primarily concerned with the ability to search anywhere at any time.

® Maxim Savitsky. 20.05.2013