Only large-scale global construction could save the UK property market in crisis

Property prices and the UK are grown in all parts of the country for the third consecutive month in a row, and quantity available for sales continues to decline.

A report from the Royal institution of Chartered surveyors (RICS) (Index index) showed that during the year prices for residential property in the UK rose by 4.5% over the next five years, the growth rate can reach 25%.

Housing prices were up in all areas of the UK, but especially noticeable price increase was in East Anglia. More than 91% of independent appraisers in favor of the fact that prices for houses and apartments in East Anglia will continue to grow and will continue to outpace the growth of prices in the rest of the UK.

In London the picture is quite different. Only 25% of chartered surveyors expect an increase in property prices in London in the coming three months and only 5% expect a rise in prices in London over a 3 month period. However, look at a 12-month term in London is much more positive.

However, the main driver of price growth are the regions of the UK. Demand for real estate in all regions of the UK will significantly outstrip supply . The supply of new housing decreases from mid-2014.

Despite the reduction in supply, the activity of buyers and sellers in the market and a great number of deals on the market in September and October 2015 has increased significantly.

On the rental market in the United Kingdom also demand outstrips supply. This trend has continued since 2009 and has now become more apparent due to the fact that prices in the market sales are growing, fewer people become buyers.

Not surprisingly, rents are also growing. It is expected that rent growth will be 5% per year over the next 5 years.

In this state of property market in the UK, only the new large-scale construction projects can save the UK from the global crisis of lack of facilities in the residential property sector.

® Alice Morgan. 12.11.2015

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Price indices for UK property

Index Rightmove

Index Office for National Statistics

Index Nationwide

Index LSL Property Services Acadametrics