Property prices in England in the lower sector of the market continue to grow

Asking prices for property in the UK rose 0.4% in may, reaching £308151. However, in the lower price sector, where reigns the buyers who actually bought their housing prices increased by 6.2% mom, while in annual terms, price growth was 11.4%. But in some regions the price increase was even higher – thus, in Croydon, Datford and Luton prices have risen to 18%.

Thus, the assumption that after the March boom in demand for housing market the UK real estate there will come a recession did not materialize and the real estate prices in the lower sector of the market is still trending up. For a month prices apartments with two bedrooms below and jumped to an average of £11298 . This means that the market enters high-quality housing and the main buyers on the market now are those who buy a property in England for himself and not investors. For those who were expecting the failure of the market increased after the introduction of Stamp duty at the rate of 3%, the real surprise was the increase in prices in April by 6.2% . This is the highest monthly rise in prices since 2012. Of course, prices in the lower sector of the real estate of England grow on the back of lower supplies. 1.5% fewer available homes and apartments came on the market in the last 4 weeks compared with the period a year earlier. Fueled by government programs demand and low interest rates contribute to higher prices.

However, not all cities in the UK saw an increase in prices. In 6 of the 10 regions of the UK prices, however, fell. So, in Llandudno prices have fallen by 7.5% over the month, and Darlington 3%. The health of the local economy has the greatest impact on local property markets in England and Wales, forming the balance of supply and demand, which affects the growth or decline of prices.

® Maxim Savitsky. 19.05.2016 G.

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