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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. 





Market Analysis - UK
Time series for residential property
 
Average house price, UK
Price/Rent Ratio: 38 yrs

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