House prices rise in november to 4% from 3.2%, and property values rise from 1.2m to 1.7m for the first time.
However, prices are still falling in many areas, and housing wealth in the capital has been boosted by high prices.
“If they see these types of values then they will start to look at buying up more properties. That may happen over the course of the coming year,” said Simon Brown, economist at HSBC.
For homes built in the 1980s and 1990s, prices rose 10% in 2000우리카지노 and are now back up, Mr Brown said, adding: “I would expect to see more of the same on a year-on-year basis.”
In the year ending August 2016, 957,716 homes sold, a rise of 14.7% on the year before and a record for the previous eight months.
It marks a “tough few months for the market”, Mr Brown said, warning that it will be too late to buy property if property values start to decline.
“In real terms, the market has now hit its lowest point since the year 2000,” he said. “It’s still selling well at record numbers.”
Ima더킹카지노ge copyright Getty Images
Mr Brown added that many of the houses in the same categories of properties as today would not be worth more today if the market were not hotter than today, especially if prices for detached homes were to increase slightly as the value of houses like those built between 2005 and 2010 in the most expensive parts of the capital rise.
Home owners like Paul Tonge have been selling up since the summer, and are now “going into the arms of a couple of big developers”, he said.
Rental prices have also increased – the highest in six years – despite a 10.3% y더킹카지노ear-on-year rise in home prices, and a rise in rental properties.
‘Worse-case scenario’
One of the reasons for the slow fall in prices is the difficulty of keeping rental properties on the market, partly because some tenants, particularly young parents, are unwilling to leave their properties to other people or to take on longer-term tenants, said Mark Prentice, deputy chief executive of property investment broker Savills.
“We’re seeing a lot of younger people turning to social housing and asking why they should stay where they are,” he said.
Some investors seem to be becoming nervous because of a stronger market in London, h
