Property prices in the UK continue to rise after the referendum

Normal seasonal activity in the market of real estate in the UK is fueled by the deadline of 1 April 2016, when entered into force 3 cent increase in Stamp duty . Index Hometrack has published its regular survey of the real estate market of the United Kingdom. The report paid particular attention to the influence that tests the market as a result of the tax changes for investors and second home buyers. According to Hometrack, many investors in the London real estate may revise their investment portfolios, moving assets into other, more profitable investment instruments, as the level of initial costs in the case of real estate investment becomes prohibitive. As a result, in the second quarter is expected to moderate growth in housing prices in the cities of England, which will be formed in the first place due to the demand from first-time buyers afford housing and are exempt from additional financial burden.

Over the past 12 months the growth of prices in 20 key cities in the UK reached 10.8%, slightly ahead of the main part of the UK, where price growth was 8.7%. Ahead of other cities in price growth in Liverpool, but the jump in prices in Liverpool, happened more as a result of the launch of the lowest level at which there were prices in the last few years. However, Liverpool’s housing prices are still far behind cities such as Leeds and Manchester, where prices have also risen by 7% per year. The acceleration of prices in the 1st quarter was due to inflows of investors who sought high-yield investments in the real estate of England throughout its territory.

It is expected that by the end of the year the prices on property in England and Wales will continue to grow. However, the second quarter will be marked by the uncertainty associated with the upcoming referendum on the British exit from the European Union. In the 3rd and 4th quarter price growth is more active in cities outside of London, so the investment potential of London today limited by the high rates of Stamp duty.

® Alice Morgan 22.04.2016 G.

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