January 31, 2012 Leave a comment
While the rest of the UK property market has been experiencing a downturn for the last year and a half, the London property market has been the only region to experience an increase in its overall property value throughout the same period. This trend confirms London’s position as a safe haven for wealthy investors fleeing the euro-zone crisis. Additionally, the upcoming Olympic Games only seem to assure the prospects of further property value increases.
The flagship house index data recently released by the Land Registry shows that the overall UK property market has decreased in value by 1.3 per cent in 2011. This means that the UK property market as a whole has not had a single value growth month for the last year and a half. There are of course regional differences with the North East experiencing the biggest annual price decrease with 7.1 per cent. Average houses prices throughout the UK property market stand at £160,384. Read more of this post