Buying a house in the UK is expensive

Development of UK house prices It peaked in March 2004, according to national data. The average house price reached a new high of 265,312 pounds, just over 316,000 euros, an increase of 33,000 pounds on the previous year, to almost 40,000 euros at the current exchange rate . This cost is 21% higher than it was before the outbreak of Government-19 in early 2020.

UK house prices rose more than expected in March, but experts warn of recession in coming months Swelling Increases. The month of March ended with a significant increase of 14.3% over the previous year, the largest annual increase recorded in 18 years and exceeded 12.6% in February. At national scale.

In a recent analysis by Reuters economists, the growth rate beat forecasts by 13.5%. “This acceleration in real estate prices worries a The post-epidemic real estate market The expansion seems out of control,” said Andrew Wishard, an economist at Capital Economy.

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“The real estate market has benefited from the significant savings that families have accumulated while incarcerated. Low interest rates”, adds Mark Harris, CEO of SPF Particuliers.

“Access to homes is a major concern for many, especially first-time home buyers who are worried about prices outside the market,” said Ian McKenzie, managing director of The Guild of Property Professionals.

You Single-family real estate Those who benefited the most from this strong demand More room to live After the increase in telecommunications. Prices for this type of home have risen almost 22.6% above average since the outbreak, which is about 68,000,000, which translates to about 81,000 at current exchange rates. Over the same period, apartment prices increased by 14.1% to around €24,000, compared to the current exchange rate of around €28,600.

Oh London property market Continues to grow, increasing by 7.4% in the first quarter, but below the double digit increase seen in Wales or the South West of the UK.

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