Property prices in England and Wales continue to grow

After a rather slow start in the beginning of the year, property prices in England and Wales reached new peaks in may 2017, taking the average height of £303200 . A seemingly small percentage increase over the last month – 0,3%, however , over the year the price grew by £13934 in absolute terms, or 4.8%.

The index of growth in property prices in England and Wales from Your Move shows that the market has high activity , which in April 2017 provided approximately 62500 transactions.

Sales growth was most significant in Wales – 13% over the past three months compared with the year 2016, in the North-East, 10% in Yorkshire and the Humber at 6% in the West Midlands – 4%.

Despite the stratospheric prices for housing, which was established in London, prices continue to slowly creep up in London – a 2.7% increase in the average price of property in London for a year and has now reached the incredible sum of £615838. Had begun to recover strongly “sagging” over the past two years the real estate market of Central London. For example, prices in Kensington and Chelsea, where he established the average price of a property is almost £2 million, saw an increase of almost 8.8% over the last year. Similar growth saw the London – about 9.7%. London city showed a price increase by 9.6% to £998709 average prices, and the best district – Haringey with a monthly price increase by 12.5%.

Meanwhile, not everything is so rosy in London – sales last year fell by 19% . The worst figure for the last month distinguished Islington, where prices fell by 10.4%.

In the regions of England and Wales also, prices continue to rise , but the growth in the East of England to 5.1%.m

The UK government contributes to the development of the real estate market, implementing such schemes as “help to buy”, the buyer when, for the first time buying a house, you need to make only a 5% Deposit to obtain a mortgage. The remaining amount of 20% of the Deposit paid by the state. For example, the activity of such buyers in the lower sector of the market has pushed prices in the real estate market in South Liverpool from £300,000 to £500000 .

® Alice Morgan. 12.06.2017 G.

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