The prospects of the real estate market

At the time, as prices for luxury properties in London showed 2.5% growth in the second quarter of 2013, growth has not affected the movement in the regional markets of real estate of great Britain.

However, there are certain signs by which we can assume that in this market has also shown signs of recovery.

If you take the luxury real estate London suburbs, its average price is about £440 per square foot. This also applies to the luxury real estate Elmbridge, where prices are 6.6% more than in 2007. Prices for luxury properties in areas of Ventura and St George hill grow particularly well and now exceeds by 20% of their pre-crisis levels.

The confidence of the market of suburban real estate confirmed by a high level of sales in the 1 half of 2013, which will definitely reflect a good level of international demand, competing with Central London.

Within an hours drive of London of a strong markets of real estate of Oxford, Cambridge, Winchester and Bishop. In all these cities the cost of real estate exceeded their pre-crisis peaks. These regions are popular first and foremost a huge selection of different kinds of educational institutions, known all over the world , excellent transport links and availability of capital. The growth of prices for luxury properties this year in these cities was from the beginning of the year to 1.9%.

The report showed significant differences between the properties situated in peri-urban areas and in the field beyond. But in some areas the planned signs of growth.

For example, district Cotswolds with excellent access to London, the choice of schools and a good supply of the secondary housing is an absolute favorite. The cost of housing here rose by 2.1% in the second quarter of 2013 , exceeding pre-crisis highs by 10%.

Coastal property, however, remains unsold in many places, which speaks of inflated prices . It partly suffers from the deficit, which entails a lack of buyers . The average price of waterfront property increased 2.4% in the second quarter and still 26% below pre-crisis peaks.

The real estate market in Scotland is suffering from similar problems. Recently having gone through a period of significant decline in prices this market has really become more attractive than real estate in other parts of the UK.

Specialists in UK property market expected at the beginning of the year that 2013 marked the turn of the regional markets that their prices will begin to catch up with London. But in fact, the gap in prices between London and the regions has increased even more since the beginning of the year.

However, we should not lose optimism. In the economy is gradually returning confidence, which will definitely affect the housing market, which are pushing low interest rates on mortgage loans. Therefore, in the next 12 months, according to the regional market of real estate in the UK, the Outlook remains positive. Although the market regions more vulnerable to seasonal factors than the real estate market of London.

® Alice Morgan 11.07.2013