London real estate prices are experiencing a record increase
According to reports published in London property prices rose 86 percent in the decade. The biggest price increase in London was experienced in the interior regions. Average house prices across the UK increased by 45 percent since 2009.
The UK was the most profitable market for investors, despite the economic problems and the stagnant market. According to a report by Benham and Reeves today, it has been the most profitable investment area in the UK in the last decade.
After the recession in 2009, house prices started to rise in London. Since 2009, house prices have increased by 86 percent.
Property prices in the inner parts of London have seen a rapid rise. Property prices in the domestic regions increased by 94 percent. Price across the UK increased by 88 percent.
“Much has been made about the demise of London since the EU Referendum and the resulting slowdown in house price growth, attributed largely to a withdrawal of foreign interest and investment,” Marc von Grundherr, director of Benham and Reeves, said in the report. “However, London remains the pillar of the U.K. property market and the ultimate jewel in the crown for both native and foreign investors. In fact, the number of EU residents buying in London alone is up from 10% in 2015 to 14% in 2018.”
“Those finding themselves in a Brexit-based limbo with regards to buying should rest assured that when the capital does resume business after a brief political respite, its market pedigree will help ensure continued price growth,” Mr. von Grundherr said.
According to Benham and Reeves, future home buyers in London may have to buy houses at very expensive prices by 2052.
The popular suburbs of Britain, such as East England and South East, increased by 69% and 62% in the last ten years, respectively.
In the report, it is stated that only in Northern Ireland, prices for recovery have not yet stopped, 5 percent of the pre-recession levels have declined.
Sevdenur Demir / [email protected]