After the failure in April, the London real estate market gaining strength

April was the most disastrous month for the market in the UK. If in March 2015 the annual growth of housing prices was 9.6% in April 2015, it was 5.5%.

Data from the National Bureau of statistics showed that property in London in March – April 2015 was in the worst of their situation in terms of price growth since 2012. A significant gap in house prices this spring was also observed in the South-East coast of England.

The regional picture is not so dismal . The annual growth of prices for houses in England amounted to 5.8% in Wales and 1.3% in Scotland and 2.2% in Northern Ireland to 8.8%.

If we exclude from the statistics London and the South East, we can say that in an average year, prices for homes in Britain rose by 5%, and Between March and April 2015 fell by 1.3%.

However, first-time buyers buying a flat or house in the UK, now pay 5.8% more than the year before.

The main reason for the April slowdown in prices are pre-election expectations. Concerned about the risk of introducing a “mansion tax” and unpopular measures in the rental sector of the UK property, the market froze , leaving the activity on the post-election period. Especially noticeable was the impact of electoral factors on the residential market of real estate of London and southern England.

Now the market of real estate of great Britain returns to its normal situation, actively taking advantage of favorable conditions in the form of low interest rates and assistance programmes of the government.

As a result, in may the number of registered buyers increased by 5% and real estate agencies are expecting in a short time the onset of activity of buyers, which will certainly be a cause of rising prices.

Outside London and the South of England, all these processes are expressed very modestly. However, here the market continues its forward movement will be in positive trend in the coming years.

® Alice Morgan. 16.06.2015

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