Property prices in the UK will grow by 4% in 2018

Average price of property in the UK increased by 4.9% over the year to January 2018. Meanwhile, the annual growth in property prices slows down. The average price for an apartment or a house is now £226000, which is about £11000 more than in January 2017.

Prices for property in England increased by 4.6% to £242000, while in Wales prices increased by 4.5% to £153000 in Northern Ireland – 4.3% to £130000 in Scotland – an increase of 7.3% to £149000.

Property in London continues to be the most expensive in the UK with an average price of £486000, followed by South-East and East of England with an average price of £323000 and £290000, respectively. The cheapest housing in the North East of England , where the average value of the property – a total of £123000.

The East Midlands showed the highest price growth to 7.3% for the year to January 2018, followed by South-West and the West Midlands with an annual price increase of 6.9% and 5.3 %, respectively. The weakest price growth in the North East – just 0.7%, and even property in London, despite the already very high prices, showed an increase in prices over the year by 2.1%.

The overall balance of the situation on the market of real estate of London is that still the main problem remains the low level of supply of new housing to the market. The housing shortage, coupled with a high demand and is a major factor in propelling prices upward in different regions of the UK.

It is expected that the inflation in the market of residential property in the UK and 4% in 2018. However, property prices in Oxford, for example, fell 5% for the year, in the city of London by 8.%, despite the fact that for the period from December 2017, the average price of property in London has risen from £481000 up to £486000 after the stagnation observed since the summer of 2017года.

® Alice Morgan. 21.08.2018 G.