Latest data released by HM Land Registry shows that London is still a safe market for investments in residential real estate assets as the value of houses increased by 2.5 per cent annually.
According to the UK House Price Index for September 2017, the average property value increased to £483,568 across all types of houses. The biggest gain was achieved by detached properties with their average value now reaching £917,729, registering 3.9 per cent increase over the corresponding period last year.
Houses in England, overall, have seen better appreciation in property values. The residential properties in England registered an annual price increase of 5.7 per cent which takes the average property value to £243,945.
The North West experienced the greatest increase in average property price over the last 12 months, with a movement of 7.3 per cent. The region also experienced the greatest monthly price growth with an increase of 2.1 per cent.
Despite the UK’s exit from the European Union, London continues to remain an attractive destination for property-related investments. The fundamentals of London’s property market are strong, offering better returns to investors.
The UK Property Transaction Statistics show that the number of seasonally adjusted transactions on UK properties with a value of £40,000 or greater has increased by 4.6% between September 2016 and September 2017.