Approximately £8.2 million investment was made in residential real estate in the UK every working day in the second quarter of 2016, or £514,4 million, 34% higher than a year earlier and 58% higher than in the second quarter of 2014. Municipalities report that the last three quarters were the most intense in the real estate lending market and the number of agreed new plans became the largest for last 13 years.
Now come to the market not only pension funds but also pension accumulation of citizens. The British are trying to provide for their old age, making an investment in residential property. Pension funds have become an important part of the real estate market.
Important role in these processes was played by the improvement of financial literacy of the population. In conditions when the Bank of England rate is at historic lows, homeowners have successfully used all the advantages of the lending market, generating extra income from the real estate market.
The growth of demand for property by consumers, as well as increased investor appetite suggests that in the future this investment sector can be an important part of investing in the real estate market, and for pensioners – a fundamental part of their income.
It is notable that these processes are resilient to economic and political shocks. If , as expected, other parts of the economy may slow down as a result of Britain’s withdrawal from the European Union, the lending sector pension money is expected to increase from year to year. Now this kind of investment is only starting to spread beyond London to other regions of the United Kingdom and the potential will grow in the coming years.
® Maxim Savitsky G. 26.07.2016
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