Figures Suggest Growth in Home Price in North, Scotland and Wales
UK House Price Growth
Recent UK regional markets studies indicate that Leeds may report higher gains and rental development. The cost in Leeds is expected to rise 17.1% by 2023, Manchester by 15.9%, and Liverpool by 12.6% in the coming five years.
The North West is expected to gain 12 per cent by 2023, and Greater London may gain 14.8 per cent. Yorkshire may gain 10.4 per cent, and North East can gain 6.6 per cent.
Figures from JLL forecast growth in price in Edinburg and Glasgow, where it is assumed the price will gain 16.5 per cent in Edinburg and Glasgow by 13.7 per cent by 2023. Across Scotland, the price can grow at 11.5 per cent outperforming the UK's five-year forecast of 11.4 per cent.
UK house price growth is forecast at 2.2 per cent, and rental growth is expected to be at 2.4 per cent. Glasgow remains undersupplied in housing, and with the population growth, low stock can lead to a shortage. In the next five years, JLL expects the sale price to increase by an average of 2.6 per cent, and rents are expected to grow by 3 per cent.
Similarly, regions near Torfaen and Newport are gaining by over 10 per cent as compared to 2018 as per the official figures released by the UK government, which states housing prices in these areas may rise with average sales gaining by 13.2 per cent in Monmouthshire (where the average home price is £265,889).
The ONS statistics claim that the house price growth in Wales was 5.2 per cent in 2018, reaching £162,000. One of the biggest growths was reported by Torfaen, where house prices went up by over 12 per cent in December 2018 compared to the last year. Newport prices rose 10.6 per cent.
ONS Figures Indicate 3.3 Percent Growth in Annual House Price
Annual house price growth was at 3.3 per cent (in 2018), whereas price growth in England was at 3 per cent, Scotland at 4.6 per cent, Wales at 4.8 per cent and Northern Ireland at 4.6 per cent. As per ONS data, UK house prices grew 2.5 per cent in the year to December.
The latest reports on the UK housing market suggest that first-time buyers buy later in life, and several buy-to-let investors are pulling out of their investments over the tax issues. However, most declines in property came in the second half of 2018, but the government should implement regulations to encourage first-time buyers to move up the housing ladder.
The price of semi-detached homes gained fastest (in England) at the rate of 3.3 per cent, and detached homes' prices rose 3.1 per cent. Terraced home prices advanced by 2.5 per cent.
The fastest development was in Wales (5.2 per cent), where the outlay remained at £162,000. The Northeast of England cost was down 1 per cent, and London was down 0.6 per cent.
To know more about UK properties, click Hamilton International Estates (www.hamiltoninternationalestates.com).
GET IN TOUCH
Contact Our Team
Call:
+44(0)1628 397840
Email:
info (@) hamiltoninternationalestates.com
Visit Our Office
Address:
Chiltern House Business Center
64 High Street, Burnham
Bucks - SL1 7JT
United Kingdom
View On Map >>
Sign up for exclusive access to our property developments
Why Hamilton International Estates
We strive to deliver a personal service for all of our clients
Why us
Our standard is also a measure of the perfection that we strive to achieve in everything we do. Our professional property consultants have cumulatively acquired over 25 years of experience in providing the perfect property development opportunities for all our clients..
What we offer
Hamilton International Estates specialises in property development opportunities. We have a wide range of property developments, ranging from; residential and commercial property. The Hamilton International Estates Standard is the benchmark of our excellence by which we judge ourselves.
Our Role
We build genuine partnerships with our customers and use our intellect to help our clients reach their goals. Our role is to connect buyers and sellers across the world and we offer our clients a number of different assets that they can purchase, retain and profit from.
Our Clients
Our client base is formed of people across the globe who wish to diversify their portfolios as well as purchase and profit from a variety of different assets. Our experience aids us to tailor our services to meet the needs of all our clients.
Disclaimer - Hamilton International Estates is acting as an agent in marketing products and services for many other companies. Hamilton International Estates is not authorised to give investment/tax advice and you should seek independent financial and legal advice prior to making any investment decision. All forecasts are based on historical performance and are purely indicative. The value of your property may rise or fall. No guarantees as to future performance in respect of income or capital growth are given either expressly or by implication and nothing expressed or implied should be taken as a forecast of future performance. This is not an offer to participate in a collective investment scheme as defined in the Financial Services and Markets Act 2000 (section 235) and as such buyers have no access to statutory or regulatory protections including the Financial Ombudsman Service and the Financial Services Compensation Scheme. Hamilton International Estates is not regulated by the FCA and is not authorised to offer advice to the general public concerning any regulated or unregulated investment. Although every care has been taken to make sure that the information in this brochure / website is accurate, Hamilton International Estates cannot accept any responsibility for mistakes or omissions. You should take your own professional advice before taking or refraining from any action based on the contents of this brochure / website which are only intended as a general outline to the matters referred to in it. All content, product description and illustrations in this factsheet, brochures and website are purely marketing material provided by the companies that we work as agents for. Hamilton International Estates registered address Chiltern House Business Center, 64 High Street, Burnham, Bucks, SL1 7JT, United Kingdom, Company Registration Number 10767032 is a sales and marketing agent.