The growth in property prices in England and Wales

Prices for residential property in England and Wales rose in February by 0.7% compared with the previous period, and in annual terms the price growth amounted to 5.3%.

These are the latest figures published by Land Registry index House Price.

This means that the average house price in England and Wales has now reached £170000. However, it is still far below the peak that average prices peaked in November 2007 – £181658 pounds.

The fastest over the past 12 months the growth of prices was in London to 13.8%. But recent months have shown an acceleration of price growth Wales to 1.6% per month starting from January 2014 In the North-East property prices are still served, during the year, showing a fall of 1.3 %.

Another important indicator of recovery of the real estate market during December 2013 the number of houses built in England and Wales increased by 33% to £75182 compared with December 2012, when it was commissioned just £56697 houses.

A sign of market recovery is growth in property prices, but the fact that buy real estate at these prices, it invariably leads to good movement in the market. Thus, the recovery of the property market in England and Wales hits all corners and areas of the property, stimulating the construction industry of great Britain.

It is already apparent significant increase in the market objects if the trend continues and the potential of the construction industry will be implemented, the market will do the right amount of housing, to meet the growing demand.

Meanwhile, the property market in the UK is inextricably linked with mortgage lending, which is now on the rise thanks to various government stimulus measures in the United Kingdom.

Of course, the growth is 5.3% annual price growth in England and Wales – the average rate, in the context of the regions the picture is very diverse.

If some regions even showed falling prices, property prices in London showed strong growth, being the growth driver and being a contrast from the picture of growth in other regions. Other regions of the UK only began their rally in prices. But considering that the market is now a shortage of good real estate, market competition will increase and rising prices in the regions will not be forthcoming.

® Alice Morgan 25.03.2014 g.

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