House Prices in UK-Regional Differences in Fall and Rise

The house prices in UK have decreased recently as per many market survey reports. On a regional analysis, the real market trend varies according to places and therefore the fall and rise are entirely depend on the regions.

A recent survey by the Royal Institution of Chartered Surveyors (RICS) showed that the areas like London, North West and South West experienced sharp rise in house prices.

The regions like East Midlands, Wales and North Midlands showed decreasing trend in house prices.

“London is still a micro market underpinned by the financial sector, overseas buyers and high-net-worth individuals,” said Brendon Thomas, of Maitlands Acorn.The big projects like Olympic site and Crossrail have further helped to grow the house prices, he added.

The South East region however showed a decreasing trend probably due to tough regulations and reduction in able buyers.

The North West showed a healthy market trend where the survey indicated maximum rise in house prices.

The East Midlands emerged as the most depressed areas due to negative market and property value forecasts. In West Midlands, the government cuts and concern over economy make the buyers less confident.

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