It seems optimism returned among buyers and sellers – house prices rise across the UK as a result.
After 10 quiet months, property prices rose in November and December 2019.
The average price for a home in December was £215,282, according to Nationwide building society, one of the UK’s largest mortgage lenders. Property prices go up by 0.1% every month.
In January they said property values were
1.9% higher than a year earlier – up from 1.4% in December and the fastest yearly
growth since November 2018. The average price for a home now stands at £215,897
– up £615, or 0.5% higher than in December.
In further evidence that the housing market
is picking up, inquiries from would-be buyers, agreed sales and the number of real
estate coming on to the market all rose in January.
Some surveys have also suggested a price
bounce in the housing market since the general election in mid-December, although
much will depend on how the Brexit after effects develop.
No doubt, we’re seeing a lot of enthusiasm among
buyers since the beginning of this year but we cannot yet tell how sustained this
optimistic mood will be.
By the way, price growth in London has
fallen to 0.6% since the referendum. This will be welcome news for many people
who are interested in becoming homeowners in London. Although it still remains
far from affordable for most of us.
One challenge remains though
Raising a deposit to get on the property
ladder is still difficult for many. Even in the north of England and in
Scotland, where property appears to be cheaper, it’ll take someone earning the
average wage more than five years to save up for a 20% deposit.
Are you looking for a property bargain or – as house prices rise – you think it’s a good time now to put your real estate on the market? Visit www.propertyunder100k.com
A prounced Brexit effect on UK house prices was unclear up to now but recently released figures indicate we are now seeing a trend. It appears that the very wealthy areas of London are seeing strong downward pressure on prices.
One report indicates the areas such as Balham and Putney are seeing a fall in prices of 12-14% with others reporting falls of greater than 15%. London city centre areas were at the centre of the UK property boom. Many felt a correction may have been needed here.
In any case other areas of the UK are not seeing the same pattern.
Continue reading Update on the Brexit effect on UK House prices
UK Commercial Property has had a torrid few years but it continue to emerge from the ashes and outperform everyone’s expectations.
Office space has seen a strong take-up in the second half of 2017. The commercial property sector smashed all expectations. But the performance of retail property was less positive following the worldwide trend caused by the change in peoples shopping habits.
Overall, the total return from UK commercial property in 2017 was 10.3 per cent.
This is outstripping even the most bullish of expectations.
Continue reading UK Commercial property beats all expectations but retail continues to lag
It is generally agreed that Brexit will have little or no effect on house prices within most of the UK.
Demand for houses has remained high; there are simply not enough houses and this inevitably means prices will continue to rise because the laws of supply and demand demand it (if you get my meaning!). If people were moving as a result of Brexit the situation may be different but evidence suggests very few are doing this. Continue reading Will Brexit effect house prices in the UK?
Buying a house, particularly in another country, can be daunting.
If you are interested in buying a house in the UK, then the first thing you will want to know is, if as a foreigner, you can actually buy a property. The answer is yes.
Now how does it actually work? Continue reading Buying a house in the UK – A step by step guide