To reduce the rise in property prices in London will help only intensive construction

According to the latest data provided by independent estate agents network, the average price of residential property in London has reached unprecedented rates £501056, up 26.1% annually and 4.3% over the last month.

According to the same report, average property prices in the UK rose by 9.4% over the year and reached £199679 pounds.

The number of sales is also in an uptrend, the 18% increase in the number of transactions per year, the number of registered buyers increased by 22.4%. Despite the fact that the number of new customers is steadily increasing, the United Kingdom is experiencing a growing shortage of new housing. And due to the fact that the average price of apartments has grown considerably, many buyers will step over the threshold of 3% loan stamp duty. In the real estate environment of England there are rumors that the government will agree to revision of the scale of stamp duties until the elections in 2015, because today, the increased rate of stamp duty at the rate of 3% , which is subject to the estate over £250,000 pounds, not falls into the category of expensive property and significantly hit the pockets of young Britons, as well as those who first buys a house.

For example, the average cost of property in London increased by £100000 a year, however, buyers in the property at that price is and real estate is still not enough.

The number of new registered buyers in London has increased by 11.7% over the year, and the number of first-time buyers afford housing in London increased by 16.7% .

The only way to reduce the growth of prices for housing in London is to establish a constant flow of new housing coming onto the market, however, London saw last year only 0.2% of the increase in new residential properties on the market, and across the UK, the figures are generally negative – the quantity of newly supplied housing fell by 1.7%. Realtors hope to break this vicious circle will help the real estate offered by owners who already have their own house or apartment in order to free up available funds to buy myself something new.

® Alice Morgan 21.05.2014 g.

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