Property prices have escalated with London having the Lions share of this growth. According to Hometrack, there was a 0.6% increase in May, while London witnessed a 1.2% boost.
However, London’s surrounding areas have experienced limited fluctuation in prices. The South East recorded a 0.6% while East Anglia saw a 0.5% increase. Rates remained static in the East Midlands, with a mere 0.1% increase in Yorkshire, Humberside, North and North West.
An imbalance in the equity markets and speculation of interest rates swelling could dissuade potential home buyers. The discrepancy between supply and demand is a catalyst of price flux in London. This market buzz means that property can be sold within 3-4 weeks. |
