Almost a third of the cities of England and Wales saw growth of real estate prices after the crisis

At that time, as the rising prices of property in England and Wales remained stable in the last year, some city in a separate common country has still not recovered from the financial crisis, which was almost 10 years ago.

The most affected by the crisis of 2008, the city of the UK – Blackpool and Sundearland, where the average price of a house or apartment, respectively by 15.3% and 13.3% lower than in 2007.

The study presented by the company House Simple, also shows that most of the cities where property prices do not grow, is in the North of England, and the biggest increases in home prices over the past decade was in the South of England, including in London at 68.5% and in Cambridge – is 64.5%. The Study compared the prices of property in England and Wales in more than 60 cities with a period when the market was at its peak in 2007 with prices that were established in this year. Analyzed more than 1.5 million objects. It is the analysis of these objects showed that 28% of flats and houses in England and Wales the price could not rise above pre-crisis levels.

Among the cities with the largest price increases over the past 10 years after London and Cambridge is Stevenage with prices rising by 58.5%, followed by Slough, where prices increased by 55,9%, Oxford with prices rising to 55.4% and Luton , where prices have increased by 47.5%, Brighton – 47,5%, Milton Keynes – 40.4% and Bristol – 40.3%.

The analysis showed that almost a third of the real estate market in the UK has still not recovered from the crisis and not the fact that the situation will improve in the coming years, selling now can be closed with a loss. However, it is clear that it is not Brexit is the main factor affecting the property market in the UK. Prices are rising where the economic situation is attractive to investors.

® Alice Morgan. 12.09.2017 G.

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