A property in London, one of the top property markets of the world, now costs £474,704, data released by the HM Land Registry, shows. For the rest of the UK, an average property is valued at £217,502.
The UK House Price Index released by HM Land Registry shows a stable property market even as prices of houses fluctuated. In England, the February data shows an annual price increase of 6.3 per cent, which takes the average property value to £234,466. Incidentally, monthly house prices have risen by 0.8 per cent across England (excluding London) since January 2017.
The London residential property market is stable though the house prices fell marginally by 0.9 per cent since January 2017. However, the markets outside London are showing growth. East of England experienced the greatest increase in its average property price over the last 12 months with a movement of 10.3 per cent. Yorkshire and the Humber experienced the greatest monthly price growth with an increase of 2.5 per cent.
The data indicates that London continues to remain one of the top destinations for investments in the residential property markets. If you are interested in investing any residential property in London, Strawberry Star can help you with multiple options. Consult our property advisors at our London office for details.
In England, the February data shows an annual price increase of 6.3% which takes the average property value to £234,466.