After the elections the interests of investors moved out of London

Demand for property in the UK increased by 9% over the past three months. Especially the increase in demand evident in the suburbs of London and in the North of the country. According to data provided by real estate Agency eMoov, City, Watford, Reading, Aylesbury and Guildford now dominate the top cities, the hottest among buyers.

At that time, in the North of the country, 60% of cities still do not feel the demand, some cities still saw growth for the last three months. Most notably the demand has increased in North Tyneside – 62%. In Sunderland and Dudley demand grew by 32% in the southern and Northern Lankarshire in Scotland by 29% and 26%, respectively.

Outside the South-East of England significant growth of demand turned out to be in Bristol by 10% compared with the first quarter.

At the same time London finally, for the first few years saw a serious decline in demand. The biggest drop in demand for property in London is marked in Ealing, approximately 36% over the last three months. Followed by Westminster with falling demand by 10%. Another city in England that experienced falling demand for residential property due to overheated prices and the introduction of higher rates of Stamp duty – Oxford, in which demand dropped by 8%.

In the top of the list with the largest increase in demand for real estate are also Wiltshire – where demand for the last three months increased by 48%, Setor – 45%, Bedfordshire – 38%, Taysad – 25% Bolton 18% and Bedford – 15%.

It is obvious that the real estate market of great Britain has made after the parliamentary elections in may 2015 the reversal. Now, when the Outlook for the next five years in power are the conservatives, has increased the confidence of buyers. Falling prices in London are forcing buyers in search of growing markets, to move to the suburbs of London, and further in other regions where property prices only started to rise after several years of crisis.

® Maxim Savitsky. G. 03.07.2015

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