Property in the UK will rise by 30% over 5 years

In the coming 5 years is expected a 30% increase in the cost of real estate in the UK. And in 2013, expected growth of cost of elite real estate of approximately 5.5% .

This optimistic forecast was provided by the specialists of the company Chesterton Humber, however, they notice that you don’t forget about regional differences.

Overall, their forecast is for growth of 28.7% over the next five years. Prime Central London projected to grow by about 8% a year between 2013 and 2017. An even greater increase in the cost of real estate is expected to the East of the country, which is forecast to overtake London and the South of the country.

Despite the long winter and fears that the economy will again fall into a third recession, the sector of real estate of great Britain has watched the growth in the number of transactions and house prices, as well as a significant improvement in consumer confidence as a result of providing the banks record-low interest rates on loans and present initiatives of the government for the recovery of the housing market in the UK.

The combination of these factors and have made the activity on the market, giving a necessary push, which became the catalyst for pent-up demand that was waiting for real opportunities.

Partly market activity became possible due to record low mortgage rates this year.

Of course, this is no reason to deceive ourselves prematurely, but the level of consumer confidence is very resilient and if mortgage rates fell short of expectations, the long-awaited recovery of the UK property market will be achieved. However, in order to avoid any potential price bubble, it is necessary to increase supply in the market.

According to forecasts, East of England will overtake the growth of London for the first time since August 2005, reaching 6.3 per cent growth per year for the period between 2013 and 2017, while London is expected to increase at 6.2%.

Elite real estate of London in anticipation of rising value of about 8% , which will still significantly distort the overall picture of the housing market in the capital, move strong demand from international investors and limited supply.

The growth in property prices in the South expected the most obvious, but in other regions of the country will experience improvement in the East Midlands, Orkshire and the Humber growth of 25% over 5 years, in the West Midlands by 19.6%, in the North-West by 18.3% and the North East by 11.8%.

Meanwhile, the company Chesterton Humber announced the opening of its second office in the Spanish town of Sotogrande, the most popular place of purchase of second homes for family holidays and sports enthusiasts.

A new office has opened in response to growing interest in European real estate from international buyers.

Partnership with Spanish colleagues will make a luxurious Spanish properties onto the market of real estate of great Britain, on the one hand, and on the other hand, will allow the British to be better informed about the real estate market of Spain.

Sotogrande is the largest privately owned residential development in Andalusia, has in recent years become a popular destination among international celebrities, including Polo players Cambiaso and Stirling, as well as Prince Harry and the Duchess of York. This area has six world-class field for the game of Golf, 11 Golf Polo, one of the best international schools in Spain. Andalusia is also known for its lovely cities and villages, traditional Spanish cuisine and wonderful views of the sea and the hills.

® Maxim Savitsky. 15.06.2013 g.