July 20, 2024

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Buying a Home in the UK is Expensive – Idealista / news

Buying a Home in the UK is Expensive – Idealista / news

Development of UK Home Prices It peaked in March 2004, according to nationwide data. The average house price has reached a new record of 265,312 pounds, just over 316,000 euros, which is an increase of 33,000 pounds over the previous year, to almost 40,000 euros at current exchange rates. That cost is 21% higher than it was before the outbreak of Govt-19 in early 2020.

You UK Home Prices March grew higher than expected, but experts warn of a recession in the coming months Swelling Increases. March ended with a significant increase of 14.3% over the previous year, the highest annual increase recorded in 18 years and surpassed 12.6% in February. Nationwide.

In a recent analysis among Reuters economists, the growth rate broke the forecast of 13.5%. “This acceleration in housing prices raises concerns about one The post-epidemic real estate market Expansion seems out of control, ”said Andrew Wishard, an economist at the Capital Economy.

To scatter

“The real estate market has benefited from the significant savings that families have accumulated during their imprisonment. Low interest rates”, Adds Mark Harris, CEO of SPF Private Customers.

“Access to homes is a major concern for many, especially first-time home buyers who are concerned about prices outside the market,” said Ian McKenzie, managing director of The Guild of Property Professionals.

You Single family real estate Those who benefited the most from this strong demand More place to live After the increase in telecommunications. Prices for this type of home have risen almost 22.6% above average since the outbreak, which is about ,000 68,000, which translates to about 81,000 at current exchange rates. During the same period, apartment prices increased by 14.1% to about 24,000, from the current exchange rate of about € 28,600.

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Oh London Property Market Continues to grow, rising 7.4% in the first quarter, but below the double-digit increase seen in Wales or the southwest UK.