CLOSE X

Register - if you don't have an account

Yes! Sign me up for Global Property Guide's fortnightly email newsletter.


Login - for registered users

Forgot Password?
Explore destinations
continent map couldn't be loaded Pacific Europe & Russia North America Latin America Asia Africa Middle East Caribbean

 



Investment Property News


My company
Global Property Guide

ON GPG


The UK's housing market isn't going anywhere

Oct 16, 2017 | 0 Comment(s)


Trend: house prices up 0.0% y-o-y in Q2

The average UK house price rose by 2.8% (0% inflation-adjusted) to £209,971 (US$ 273,046) during the year to Q2 2017, based on the figures from Nationwide. In London prices decelerated sharply, with price rises of 1.5% inflation-adjusted y-o-y in Q2 2017.  Some high-end London districts have experienced significant price-falls. 
 
Analysis: supply of houses to the UK's market has hit a record low.  Since the Brexit referendum and the general election, newly agreed sales have fallen and buyers have taken a more cautious stance.  
 
Property around outer London is strong. The highest price rise was in East Anglia, with house prices increasing by 5.04% during the year to Q2 2017. House price growth was weak in the North (1% y-o-y in Q2 2017), in Wales (1.40%), and Scotland (1.72%).
 
Rents, rental yields: London yields are poor, at around 3%
London apartment costs are very expensive, at €25,575 per sq.m.
 
UK: city centre apartment, buying price, monthly rent (120 sq.m.) 
   Buying price  Rent per month  Yield
 London (Super-Prime Central)  €3,069,000  €8,213  3.21%
 London (Other Luxurious Central)  €2,810,880  €6,364  2.72%
 
Recent news.  The present weak government, the result of general election following the UK's Brexit referendum, is "stifling" the country's housing market, respondents to RICS´s UK Residential Market Survey said in June 2017. 





PROPERTY RECOMMENDATIONS

 
Download free property reports from international research houses

Our Newsletter

 
Fortnightly updates from the global property arena directly to your inbox.

Manage subscriptions