Report about the market of elite suburban real estate in the UK

The largest real estate Agency Knight Frank has published the latest data on the real estate market in the UK.

According to research, the prices for elite country property in the UK remain stable for the second consecutive quarter. In the second quarter of 2012, prices even rose by 0.4 % , but with the beginning of the year still recorded a decrease of 1.2%. And if you compare prices with the third quarter of 2007, when prices were at the top of its peak, the average price still below the peaks of 21%.

There is a difference in the dynamics of real estate prices that cost less than £ 2 million and real estate traded in the range of £2 million to £5 million Property cheaper than £ 2 million rose by 0.8% , while the estate range from £2 million to £ 5 million continues to fall in price, showing a decline of 0.4 percent. The increase in April 2012, Stamp duty on the purchase of real estate more expensive than £ 2 million. had a significant impact on the market.

However, the interest in real estate is more expensive than £5 million pounds from foreign buyers is increasing due to the weakened pound.

Despite the fact that more and more signals from the real estate market comes the increase in prices prevailing mood of the UK property market is still uncertainty. A very long time is a discussion of the transaction – the buyers carefully study all the options.

A positive sign is the increase in the number of hits 7.9% in the first six months of 2013 compared with the previous year, the number of new filings rose 0.1% over that time. Besides, from-for late spring this year, which started at 4-6 weeks later than usual, the suburban real estate market in General was more reserved than usual at this time.

At the regional level, the average price of luxury homes in the South West increased by 1% during the quarter. Prices for Prime homes in Wales and the South-East saw a 0.6% and 0.5%. The stories of the agents in the regions, some markets have seen the benefits of the emergence of new sellers who put a property at more realistic prices, which, combined with the unmet demand, given the movement of the market. Prices in Ascot has increased by 2 % per year, while prices around Esher have risen by 3% per year.

At Oxford, influenced by the trend to leave London and demand from local buyers, the most noticeable increase in prices is 4.8%.

Buyers continue to involve areas good prices, and a limited number of proposals leads the market to competitive bidding, pushing prices up. For example, prices in Winchester have risen by 2.9% this year.

® Helen Entree. 09.07.2013