The growth in property prices in London, the ripple effect has covered the UK

The average price of a residential property in the UK has now reached £260488 , rising to £16265 since the beginning of 2014. According to the report, submitted by the real estate company selford, the strongest growth of the real estate market over the past few years since the crisis.

Average real estate prices in London have risen in price by 8.2% , or the sum of £43115. In stark contrast with London prices the pace of price growth in Scotland – about 1.1% since the beginning of the year. The national average price growth of 6.5%.

This means that the average unit price of housing in the UK rose in price by 90 pounds a day. Ahead, the small town of Salford in the suburbs of Manchester, where real estate prices have increased YTD by 12% and now costs £138619 . Such growth rates have eclipsed even London.

Generally, it is surprising that property prices in London still rising. According to property portal Zoopla, the average price, which put up property in London has reached £567392 . It is 4 times more than in Salford.

Two more cities, which marked quite strong price growth in the first half of 2014 is the town of Brough in Yorkshire and St Leonards on sea in East Sussex. In these cities, prices rose by 11.9% and 11.8%, respectively.

Homeowners throughout the UK are encouraged by the higher prices and hope that the real estate market will continue its recovery after years of stagnation. For example, the phenomenon of the small town of Salford shows that a boost in the real estate market happens where there has been an improvement in the economy and create jobs.

Now real estate prices are growing not only in London and the South of England, but the ripple effect of rising prices is being felt in other regions of the UK, which gives every reason to believe that the UK is recovering after the crisis.

Those weak numbers, which always shows a strong region – Scotland reflect the uncertainty in the real estate market of Scotland, which appeared in connection with the caution buyers ahead of the referendum on independence in September 2014.

® Maxim Savitsky G. 25.07.2014

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