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Recent Property Price Increases, London

admin — Thu, 31 Dec 2009 12:55:13 +0000

The advance on the real estate in the Great Britain last years averages about 10-12 % a year. According to Nationwide Building Society the value index of the inhabited real estate of England in the spring 2007 showed ascending dynamics, and in annual expression the price index on the inhabited real estate has increased for 10,2 %.

Despite of delay of rates of growth of cost of the real estate by summer of 2007 in London and England as a whole which has been caused by desire of British to avoid charges according to new rules of advertising of the real estate, rates of a rise in prices have kept dynamics.

The reasons of steady positive dynamics of the prices for the real estate of the Great Britain and high investment appeal:

- the liberal tax laws;

- stability of the British economy;

- the simple and consecutive immigration legislation;

- a low level of bureaucracy;

- comfortable conditions for average business;

- high base demand from buyers and investors;

- availability of interest rates on the mortgage and an opportunity of its reception at all not being the citizen of the Great Britain;

- change of structure of the population and inflow of immigrants from all world, wishing to locate in London.

According to researches of organization NHM (National Housing Federation), published in August, 2007, the inhabited real estate in England the nearest five years should grow on 40 %. According to forecasts the average price of the house in England during the specified period will exceed a mark of 300 thousand pounds sterling in comparison with current market cost of 220 thousand pounds. Cost of houses in London according to forecasts NHM will above 470 thousand pounds sterling. For comparison – today average market cost of the house in capital makes about 320 thousand pounds. The factor of a rise in prices on the real estate of England since 1948 till today has made 11,7

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Average Rent Prices in London

admin — Thu, 31 Dec 2009 12:54:40 +0000

Concept of average cost of rent of habitation of London not absolutely correctly as in the same area can be offered both rather inexpensive and elite variants of rent. In many respects it depends on parameters of habitation and the services included in cost of a rent.

As the most demanded habitation for short-term residing (till 3 months) are considered one-room apartments, cost of which week rent is in a range from 270 up to 400 pounds a week. Exception is made with elite variants or apartments with small metric area – pricing here depends on a level of equipment of object and area of an arrangement. The offer in the market of rent of London of one-room apartments makes about 30 %, but to make a decision on rent it is necessary at once – the great demand on short-term rent remains to constants irrespective of a season. With one bedroom not essentially below, than double variants of habitation (from 390 up to 590 pounds a week), therefore it is necessary to consider cost of rent of apartments and these objects.

At cost of rent of three-room apartments in various areas of London the greater disorder of the prices – from 600 up to 900 pounds a week has offers. Also it is a lot of offers on three room apartments in elite areas of London (Westminster, Chelsea, Kensington, Notting Hill, etc.) over 1150 pounds a week.

The price level in a segment of rent of multiroom apartments (from 4 and more rooms) has stratification on two categories – inexpensive apartments with modest conditions in poorly popular areas, or dear elite objects in prestigious areas of London. Both of a segment are presented by a small amount of offers and are in demand basically for longer rent.

For the general data interesting there is a fact of calculation of cost of rent in the Great Britain. Rent of habitation in London приято to count for one week. For finding-out, in what sum rent of habitation in a month in habitual for the Russian tenant the prices will manage, it is necessary to divide cost of rent of apartments for a week on 7 and multiply by 30.

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Average Property Prices in London

admin — Thu, 31 Dec 2009 12:54:08 +0000

Under forecasts of the Royal society of appraisers of the Great Britain the nearest five years the average rise in prices on the real estate in London will make up to 8 % a year. In a greater degree the forecast concerns to a business part of the British capital, in view of carrying out of Olympic Games in 2012. It is area Canary Wharf and a zone adjoining to a place of carrying out of Olympiad.

In opinion of independent experts in London the price for the real estate changes depending on «postal index» which is appropriated to area, for example area Mayfair. Buyers can pay for postal index SW1 in some times more then usual.

The highest prices for the inhabited and elite real estate are traditionally kept in prestigious London areas Kensington and Chelsea. The greatest prices outside London – in a county Surrey (Surrey).

According to the Ground register (Land Registry), the average price of object of the real estate in English capital in the summer of 2007 has made the sum about 340 thousand pounds sterling, that on 70 % above, than the average price across England.

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