The latest report of the UK property market

The number of transactions in the residential property market in the UK grew by 32% in March 2014, and the confidence of sellers 36%.

In the whole country of residential property prices grew by 32% compared to March, reaching an average cost of £212372. In the annual measurement prices have risen by 11%.

In London the price increase is even more significant – on average 2% per month and around 24% in annual terms. Today, the average price of residential property in London is £457872 pound.

It is noteworthy that the number of applications for mortgage lending rose by 5% last month.

This spring is a witness of how quickly is heating up the real estate market in the UK, each month, doubling all the market indicators.

Meanwhile, the entry of new real estate is not sufficient to meet growing demand. In the end, the situation with the imbalance of supply and demand negatively affects the price formation process, pushing prices up .

The fact that the number of transactions in the market continues to grow, suggests that buyers are willing to pay that cost, which is available now on the market, despite rising prices.

Introduced this weekend the new rules of mortgage lending, of course, will reduce the pressure on the property market across the UK, as it will increase the period of consideration of applications and the number of failures. However, in the long term, according to market analysts, this fact is unlikely to significantly affect the market.

In the regions of UK, price dynamics varied. For example, in the North-East, in the middle part of England, in the East and in the southwest there is even a small decline in prices over the past month. In Scotland and in the North-West prices are rising from month to month. In the North-West prices are now 6% higher than a year ago and the average cost is approximately £143263. In Scotland, the average price rose over the year by 8% , will reach around £113877 for one property.

In Wales the price last month fell 2%, but the average price of a property is still 7% higher than a year ago, and is £177776.

A similar situation is observed in other regions, which recorded a price drop in the past month prices fell slightly and remained significantly above their levels a year ago.

Throughout the UK market is gaining momentum, evidenced also by the fact that in conditions of a rigid competition and fast moving market, buyers have to make decisions faster.

® Helen Antre 24.04.2014

 Minster House

Beaufort Park

A Venetian courtyard, “Renaissance”

Real estate investment in London. Canary Wharf.

Real estate investment in London. Dickens Yard

Apartment class “Lux” in West London