Sales in the real estate market in the UK is the highest since 2007

The sales housing market in the UK in the first 10 months of 2014 were 21% higher than in the same period of 2013. 760000 more units of residential property were sold, which is the largest proportion since 2007.

Lloyds Bank has conducted a study of the UK property market.

Now the real estate market is in the best condition after his deep depression, which has been on the market since 2008. However, the number of sales in 2014 was still below its highest level achieved in 2007.

The most substantial sales growth was in Daventry County Northamtonshire – by 56%. All UK regions have experienced a significant increase in activity in the residential real estate market in 2014 compared with 2013, in East Midlands the increase was 26% in the West Midlands – 25%, and the biggest price growth was in greater London at 11%. However, London saw record sales growth of 74% between 2009 and 2014. In fairness it should be noted that in all regions there was an increase of sales during this period. In the East of England the increase was 51% North 52%, South West – 52%.

Despite a fairly strong market growth in all regions sales are still far behind their 2007 levels, when there was a peak of activity in the real estate market.

In some cities the sales began to fall. First and foremost, the demand, and hence real estate prices, noted from London and 8 cities in the UK.

In 12 UK cities, the number of sales exceeded pre-crisis levels. In Biggleswade County Bedforshire the sales level in 2014 was 19% higher than in 2007, in the County of Oxfordshire and Wallingford – 14%, in Didcot by 12% in Cambridshire – 12%.

In General, the residential property market in the UK is just beginning to recover from the crisis and are still far behind their maximum levels that were reached in 2007.

® Maxim Savitsky. 24.02.2014 g.

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