Experts of London suggest that a few years to come the British real estate market will be ruled by buyers. The glut in the market has arisen from permanent funds from Russian and Arab oligarchs. In this connection, you need to wait some time for the situation “has cooled”.
According to the statistics of NationWide, in the first three months of 2016, the cost of houses in London, the average increased to 455 884 pounds (+11.5 per cent). The price of homes in the country amounted to 198 564 pounds, an increase of 5.3%, compared to the year 2015.
It is noted that the earlier mark in a £ 400,000 has been crossed in 2014. Compared with the 2007 figures at home in London rose by 30%.
In connection with a reduction of activity in the market, by the end of 2017 suggestions can significantly exceed the demand that will result in a decrease in prices for real estate.It is also expected a decline in the value of rental housing.
In the Bank of England said that before the end of the transition period, the financial system will receive the necessary assistance.According to experts, at this time, the base rate can be reduced from 0,5% to 0,25% and this will safely affect mortgages and loans.
