One new property in London we have 18 buyers

House prices in England and Wales rose 1.5% over the last month compared to the previous month, reaching the average price of a home £167063. The September data представленныеLand Registry”s House Price Index also showed that annual prices rose 3.4%.

The biggest increases in house prices observed in London, where prices over the last 12 months increased by 9.3 percent.

In North-East England has seen the largest monthly increase of 2.7% over the last month. Only one region, where the annual price has fallen – this is Wales – here the price for the year fell by 1.7% . In Wales recorded the largest monthly decline of 0.4 percent.

The biggest surge in sales recorded in July 2013, when the number of sold new homes increased by 17% compared to July 2012 to 69140.

The number of houses more expensive than £1 million, sold in July 2013 in England and Wales increased by 17% compared to July 2012 to 1143.

This positive picture suggests that there are signs of economic recovery in almost all regions of the UK, but the rise in property prices in London is on a completely different level.

A huge imbalance between supply and demand leads to the fact that property in London in record time changes its owner, sometimes at inflated prices. As long as the Bank of England retains low interest rates, luxury property in London will constitute investment interest and competition in the property market of London will be very high.

Sustainable attractiveness of real estate in London from the British buyers and foreign investors is reflected in the figures. Currently 18 potential buyers registered for each new subject in London and the demand is not going to decline. Such sustained growth contrasts sharply with the picture, which was a year ago. New mortgage opportunities and public investments in the real estate sector has done its job – now the real estate market in the UK is much more optimism and confidence than a year ago. The only thing now lacking for a full recovery of the market is more new housing.

® Helen Entree. 29.10.2013

Investment attractiveness of the UK

Apartments in England. Swindon from £95000