The real estate market in the UK waiting for even more excitement in 2014

For the 12 months to October 2013, prices for residential property in the UK rose by 5.5% . This is the highest growth since September 2010, based on recent data from the Office for National Statistics in the UK. However, the UK regions the picture is quite diverse. In England, for example, the growth amounted to 5.7% . in Wales, 2% in Scotland and 3.3 % in Northern Ireland 4.8 per cent.

The growth in property prices in England were, of course , London, where prices increased on average by 12%, in the East of England – 4.8%, in Western Midlane by 4.7%. If we exclude from the statistics London and the South-Eastern part of England, where there is the greatest growth in prices, average property prices in the UK rose by 3.1% over the past 12 months to October 2013.

Those young families who first buy a house, faced with a large increase in prices, because they buy their own apartments and homes in the lower price segment , where demand is the highest. For them, the price growth was about 5.9%.

This growth trend, in all probability, will continue in 2014.

As can be seen from these figures, the Growth rate in property prices in London ahead of the regions is at least 2 , and even three times.

A magnet as UK citizens and foreign buyers remains a luxury property in London. Offices luxury real estate report was about 19 potential buyers for each object of real estate. Considering such a huge demand, luxury properties in London will sell very quickly and in most cases for the asking price or so.

Meanwhile, inflation in the UK fell slightly by year-end. On Christmas all the shops have established good discounts. Good discounts and also provide company real estate. This situation is correspondingly significantly improved consumer sentiment and contributed to the increase in demand.

If the situation with the economy in the UK in 2014 will grow at the same pace and the regulatory framework will remain stable, including the interest rate of the Bank of England, if every reason to believe that in the UK there will be a further revival of the property market and the corresponding price rise. Since the rent growth still lagging behind inflation, families will be able to finally ultradilute a certain amount each month to finally get to the dream of becoming the owner of his house.

® Maxim Savitsky 23.12.2013 g.