UK Property Market

london property

UK Property Market

The mixed messages from the property market are still continuing. But what the official land registry say about the value of houses in different areas?

House prices inched up by 0.2% in June, says the land registry, but London is still recorded as being in double digit growth.

The capital is outstripping most of England and Wales where prices are up 8.4% year on year. House prices have climbed since their recent low and are now probably at the same level of prices as they were in 2012.

The report has revealed the extent of the divide between the London property market compared to the rest of this country- with the average in London as twice as expensive as the rest of the country at £338,346, that is twice as expensive as the nation average, which is pretty scary.

Sales volumes seem to be up year on year, with an average of 44,161 a month between January and April compared to 32,013 last year.

The lowest annual property price inflation was seen in the North East at 2.9%. only areas in the south of the UK  saw rises of over 5%.

Experts say that despite the gradual recovery of the property market there are still some areas still bordering slump prices.

The NAEA chief executive Peter King said: “There are enormous regional differences in prices of the property market this year and it looks like it will continue”

The latest land registry statistics show that the housing market is slowly recovering, this is be welcomed, but lots of people are still excluded from owning a home because lending remains unfairly restricted. property investment in London seems to be a good thing to be into with prices being sky high there.  BMV Properties is no longer the case in London.