Buyers move from London to other cities in England

Many property buyers in England are beginning to give preference to the suburbs of London, rather than London itself. Despite the great advantages of living in London and a lot of facilities, the number of buyers who buy property in the suburbs increased to 26 % from 21% in 2013. The reason, first, the lack of quality real estate in London and of course, buyers attracted significant difference in price between property in London and real estate in the suburbs. According to data provided by the largest real estate portal Rightmove, the average asking price of residential real estate with 4 bedrooms in London is £983000, in the County of Surrey, the most expensive neighbor London – £659000 , in the County of Kent, the cheapest coast region – £406000.

The increase in demand for property outside London has led to higher prices.

Although the increase in prices in London rose by 7.5% a year, they still lag behind London, where the average price increase over last year amounted to 13.1%.

So-called “ripple effect” that will increase as more and more will increase the price gap between London and the rest of the United Kingdom.

Already noticed that purchasing activity in London is moving in three directions: 1. In the South-West from Chelsea to Richmond and then along the Thames to Surrey along the highway A3 . 2. In the North – from the street to Hampstead County Hertfordshire and in the South – East of Dulwich to Kent.

For those looking for a more attractive price, interesting places Stafford and Newark – these places are gaining popularity among homebuyers of England, especially those who do not need to travel frequently to London.

The process of recovery of the real estate market have taken place throughout the UK. First of all, the market recovery depends on the state of the local economy and secondly the impact on the market has a ripple effect from London.

It is expected that this year the real estate market of England sees strong demand, and hence price growth in cities and part of the demand will be gradually distributed to the villages and countryside near the cities.

® Alice Morgan. 23.05.2014 city

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