Growth Predicted For Significant Parts Of The Uk

Posted on: 4 April 2019

Significant sections of the United Kingdom can expect to see an increase in house prices after a strong performance in the year to January 2019. The average price increase for the entire country was 1.7%, with Wales leading the way with a rise of 4.6% closely followed by the Midlands at 4.4%.
 
Indeed, even the capital city which has suffered a slightly tumultuous period following the Referendum, has seen a 6.3% increase in demand from buyers up until the end of February 2019. The number of offers was also up by 7.5% in the year to February 2019; with strong demand for property outstripping the actual supply of properties available.

Elsewhere, mortgage approvals have continued to enjoy a rise with 66,800 accepted in January, up over 1000 from the previous six months’ average of 65,500.

This increased activity is all the more impressive considering that the BoE’s report suggested that property market activity had been muted, with the Royal Institution of Chartered Surveyors’ residential market survey also alluding to subdued enquiries, new instructions and sales.

“While buyers can currently expect to purchase at a reduced price in London, the opposite can be said for the rest of the UK with continued growth across the majority of regions, suggesting there are plenty of investment opportunities elsewhere. The Midlands in particular stands out as a region for investment, with house prices growing by around 4%. Amongst the headlines of falling house prices, it’s therefore important not to overlook the fact that significant pockets of the UK continued to be poised for growth.”

Share:


Recent Articles

20 December 2024

How To Make Your Pets Look As Festive As Possible On Christmas Day

One fun way to involve your pets in the celebrations is to dress them up for Christmas Day. 1. Christmas Jumpers • Cosy Knits: Your dog or cat can stay warm and fashionable in a soft, light jumper with festive designs like reindeer or snowflakes, especially if they have short fur...

18 December 2024

Get A Festive Grip On Your Garden Pathways!

Ensuring your garden pathways are safe and not slippery over the festive season is crucial, especially when greeting visitors. Cold, damp, and icy weather can make outdoor surfaces hazardous, but a few easy precautions can help keep paths safe. Maintaining clean, well-lit, and grated...

17 December 2024

Buyers And Sellers, Act Now: Sales Surge Amid Stamp Duty Increase

  Stamp Duty Land Tax changes are coming into effect 1st April, and purchasing a new home before this date can save you thousands of pounds.   As we approach the April stamp duty deadline for England and Northern Ireland, there is no denying the bountiful...

Get an instant online valuation

Find out how much your property is worth