Splex number of new homes in London

In the UK economy only emerged the first signs of recovery from the prolonged crisis and the London property market has already registered a record number of properties over the past 26 years – since that moment as started to be electronic records of real estate transactions.

A total of 26230 new homes in London were registered in 2013, is 60% more than in 2012, when it was 16364 real estate listings in London. This is the highest figure since the beginning of the economic crisis in 2007.

Signs of a significant recovery is evident also throughout the UK, including Scotland and Northern Ireland.

Information on significant growth of new registered properties in the UK is confirmed by the leading insurer and guarantor of all construction companies in the UK Bank HSBC.

Looking back, in 2013, we can say that the year was marked by the return of confidence in the construction industry and the real estate sector. Builders, in turn, seek to meet all the growing demand from buyers.

It should be noted that a portion of newly registered residential properties in London is rebuilt to the needs of the residents of old homes.

And the number of newly built housing in London is extremely low – this figure is now at its lowest level since the 1920s.

Meanwhile, government initiatives to support real estate sector and high interest of investors to the London property market has done its job for every newly property has a record number of buyers. London again became a hot spot. New housing is sorely lacking. Still a lot of new houses required in London. It is estimated that around 50,000 new houses and apartments in London should be commissioned annually to meet the growing demand.

At the same time, the trend in London is that to be homeowners becoming less available affordable to people with low or medium level of income and the only chance for these people to rent their own accommodation. Therefore, the rent for residential property in London continues its growth, ahead of other indicators of inflation – such as wage growth and prices of products and commodities.

® Helen Entree. 03.02.2014 g.