In the UK the number of real estate transactions increased by a quarter in 2013

My research of the property market in England and Wales has provided Lloyds Bank.

Sales of residential property in England and Wales for the six months ending September 2013 was at the highest level since 2007, when the real estate market and the entire economy of great Britain was the global financial crisis.

But the beginning of last year indicated clear signs of recovery in the market – the level of sales in the period from March to September 2013 were 21% higher than the same time in 2012 – was committed about 396756 transactions . This is the highest sales growth for this time of year over the last ten years. But the General level of sales still 41% lower than the level that was achieved at the peak in 2006 , when the number of transactions reached value 673699 for the same period in 2006.

The vast majority of the cities found an increase in the number of sales in the real estate market positive dynamics was observed in 98 % of cities.

Traditionally, the cost of an average residential property in order to better assess its accessibility to the ordinary Englishman, it is convenient to measure the average total annual income of a resident of the region where the property is located.

So, in ten UK cities, where the number of sales grew the fastest, and the average price of a house equals approximately 6.3 aggregate annual revenue. In those regions of the UK, where the number of sales fell, the average price of residential property reached nearly 7 of the total annual income of the average inhabitant of this region.

But overall, since the spring of 2013, activity in the real estate market of England and Wales on the rise and the market shows the strongest positive trend over the last 10 years. The number of cities of England and of the Pulse, showed a positive trend in 2013 have tripled compared to 2012.

Low interest rates from the Bank of England increased interest from foreign investors to the property market in the UK, government incentives of the real estate market – all these factors finally helped to improve consumer confidence and ensure the growth of sales and the natural activity of the UK property market.

® Maxim Savitsky G. 13.02.2014

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