Photo: Alberto Pezzali / Globallookpress.com
Housing prices in the UK for the year grew by 0.1%, while London real estate, in contrast, fell. It is reported Bloomberg.
The most notable increases were in Wales, the newspaper notes, while a square meter of housing in London annual value lost 1.4 percent. Multidirectional dynamics due to the governmental crisis provoked by the country’s withdrawal from the European Union, as well as increasing stamp duty for foreign property buyers.
The future prospects of the London housing market, Bloomberg stresses depend on the results of the election of the Prime Minister and what the scheme of a British exit from the European Union will choose a new leader.
According to a previously published report by the National statistics UK (ONS), at the end of 2018, housing prices in the country fell to a record low for more than a decade of observations of the level. Especially notable this fall was in London. According to statistics, the ONS, the average cost of meter of London in may 2019 amounted to 457 thousand pounds (about 36 million).
Of the high interest of Russian oligarchs to London real estate is known for more than 15 years. Due to changes in local legislation in the interest of Russians to the British property in recent years has decreased markedly.
The results of the selection of the new Prime Minister should be known the evening of 22 July. The main contender for this post is a former Minister of foreign Affairs and mayor of London Boris Johnson is a supporter of “hard” scenario of exit from the EU. The second candidate is the current British foreign Secretary Jeremy hunt.
Video, photo All from Russia.