The average price of houses and apartments in the UK rose 0.1% in October, but the market is quite strong. Data provided by the National Office of Statistics showed that prices for 2016 increased by 6.9% and the average house price is now £217000, about £14000 higher than in October 2015. The main driver of growth is the market of real estate of England, where prices rose 7.4% for the period from October 2015 and the average price is now £233000.
In Wales, prices rose 4.4 percent from October 2015, and the average price is now £147000. More modest price growth in Scotland is just 4% from the established average price of £143000.
Among the regions of England is the leader of the traditionally London, where the average price of housing is now £474000, followed by South-East and the South of England with average prices of £313000 and £279000, respectively. Low price traditionally in the East – £125000.
The Eastern part of England is distinguished with an annual price increase of 12.3%, followed by South – East with a price of 9.1% and then in London with rising prices for flats and houses by 7.7%.
Despite the fact that Prime Central London is experiencing a substantial price correction, the overall picture in London is positive due to the rapid growth of prices for real estate available in London.
Meanwhile, the overall slowdown of sales for the last three months indicates that the growth of prices in 2017 will slow or even stop. Expected inflation in the market of residential property in England in 2017 at 2% -5% depending on the region .
Armageddon in connection with the “referendum” did not happen, the market has demonstrated remarkable resilience to political change, but some uncertainty for a long time will affect the mood of buyers. In General, the changing market structure of the UK property. London is not a centre of attraction for investors, but the impressive demand for property experiencing southern and South-Eastern part of England. Investors left the markets of England, they just change their interests in accordance with changes in the market itself.
® Helen Entree. 05.12.2016 G.
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