As property prices are dependent on the level of unemployment

Prices for property in the UK have an inverse relationship on the level of unemployment in the region. In regions with low unemployment the price tag on residential apartments and houses in England has increased over the last decade nearly £90000. This is almost 5 times more than the growth of prices in regions with a high unemployment rate – about £18657. And in the 10 regions where the employment rate is the best in the country, the level of prices for housing increased by 76% over the past 10 years. Lloyds Bank has introduced its latest report on the market of real estate in the UK in terms of employment.

These data indicate that the gap in housing prices between areas with high levels of employment and low continues to grow.

Property prices with a high level of unemployment on average – £139520 is £102655 or 42% less than the national average, which has already reached £242175, for comparison, property prices in the regions with the lowest unemployment rates amount to about £352244, which is £110049, or 45% more than the national average.

A high level of employment, increases consumer confidence, facilitates the procedure of obtaining mortgage lending and in General stimulates the movement in the property market. In regions with a low level of employment among people is harder to obtain the loan, however, and in these regions there are factors which help to solve the housing problem – in the context of historically low interest rates buyers are offered various assistance programmes of the government, that stimulate people to buy.

10 most successful from the point of view of employment areas of the UK property prices have risen over the decade by £200155 and reached £464,373. Nine of them are located in London. As you can see, the prices are almost doubled over the past 10 years. Seven of the 10 districts with the worst level of employment is located in the North West of England. In the 20 areas with the worst employment growth rate was only 15%, which is two times less than the national average.

Over the last 10 years the average growth in property prices in the UK amounted to £61575, or 36% and the average unemployment rate stood at around 3%.

® Helen Entree. 29.04.2016 G.

 Apartment in the heart of London – Westminster

Taxation legal. individuals in the UK

Tax on capital gains in the UK

What “Stamp duty”

Best offer

Land and types of ownership of property UK

The process of buying real estate

Why we recommend to buy new apartments and houses

Why Brits want to leave EU?

In the UK, reduced Stamp duty

Why buyers from Russia should not fear sanctions

More than 325 % over two years has earned our clients

St Paul’s Way

Wembley Park Gate

Enderby Wharf

Hale Village

Marine Wharf (pier)

Tower Harbor in Canary Wharf