London and East of England – key regions of growth in property prices in the UK

The total stock of property in the UK, free for sale, fell below the pre – crisis period is 45% less than available for sale flats and houses now available in the United Kingdom than in November 2007.

In addition, the annual asking price in England and Wales increased to 7.3%. Major regions, pushing up prices, are London, the South East and East of England. Prices in these three regions are growing at an alarming rate, significantly ahead of other parts of the UK. Over the last 12 months asking prices for properties in London, East and South-East of England grew by 12.5% , 9.8% and 9.4%, respectively. Meanwhile, the number of new listings to sales fell by 15%, 13% and 10% respectively.

At the same time in the North-East and Yorkshire prices not only grow, but also showed a slight drop in Yorkshire asking price fell by 0.1% and in Humberside – 0.5%.

Indeed, the real estate markets of the Northern Regions and Wales are stagnant. The increase in property prices on an annual basis in the North East, North West and Yorkshire amounted to 0%, 1.2% and 1.9%, respectively, compared to the South-East of England can be considered depression. Picture prices in Wales looks a bit more attractive – 2.7% per year, but still, real estate Wales still lags far behind the average for England and Wales, where prices rose 7.3%.

Now the average asking price for residential property in England and Wales was 25.8% higher than it was in 2010.

And in the next year, pressure on prices will provide prices in the East, South-East of England and London.

In Scotland, prices rose somewhat faster than in the Northern regions of England – the rise in prices for the year 2015 were 4.7% and 6.4% from November 2010. The real estate market, Aberdeen has experienced over the past year, the impact of falling prices for oil and gas. After turbulent 2014, when real estate prices in Aberdeen increased by 13% , there was a fall in demand for Scottish market began to accumulate unsold real estate.

The most rapidly appreciating region is now South East England. The average time of sale of a property here was 63 days. The price increase from February 2015 – 9.6% and price growth over the last 5 years – since November 2010 was 33%. Decreases and the amount of real estate, free for sale in the region.

The last time such a shortage of housing on the market was in 2010, when the 30-month consecutive fall in prices has undermined confidence in the market and the sellers just did not put the property up for sale, waiting for better times.

Now times have changed in the real estate market of London, East and South-East England present a demand and supply.

In conditions when interest rates are at zero, the profitability of investment in different financial asset in question due to geopolitical instability, real estate investment brings tangible returns.

While maintaining confidence in the UK economy, growth in property prices in London and in the Eastern part of the UK be redistributed to other parts of the country in the coming years.

® Helen Entree. G. 13.11.2015

KNIGHTSBRIDGE, LONDON SW1X – £8,750,000

MONTPELIER MEWS, KNIGHTSBRIDGE SW7 – £9,500,000

THE BELVEDERE, CHELSEA HARBOUR SW10

HANS PLACE, KNIGHTSBRIDGE SW1X – £ 14500000

BERNERS STREET, FITZROVIA W1T – £1,995,000

BROMPTON ROAD, KNIGHTSBRIDGE SW3- £1950000

FITZJAMES AVENUE, WEST KENSINGTON W14 – £ 2,300,000

IMPERIAL CRESCENT, IMPERIAL WHARF SW6 – £ 4,550,000

THE KNIGHTSBRIDGE, LONDON SW7 – £ 2,950,000

HANS COURT, HANS ROAD SW3 – £ 13,950,000