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UK Residential Property Prices Continue To Increase

UK Residential Property Prices Continue To Increase

UK Residential Property Prices Up For Seventh Month In A Row

Residential property prices in the UK have continued to increase for a seventh straight month in August, according to the latest house price index released by mortgage lender Halifax.

The growth in property prices suggest that the government initiative designed to kick start the property market is indeed working, to support the demand from willing first-time and next time residential property buyers, although there are fears that the UK could see another property bubble emerging, because property prices are rising so quickly.

Halifax said that residential property prices increased by 0.4% from July 2013 and were 5.4% higher than 2012, providing the UK residential property market with the biggest annual price increase since June 2010.

In July, residential property prices increased 0.9% from June 2013, and were up 4.6% from July 2012.

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The USA residential real estate (property) sales market is witnessing an influx of Chinese property investors, purchasing for both investment purposes and for personal reasons.

Research by the National Association of Realtors (NAR) show that the Chinese are just behind Canada as the largest group of overseas purchasers of USA property.

USA today revealed that cities such as New York, San Francisco and Los Angeles are proving to be popular destinations with overseas residential property buyers.

  • 40% of Chinese purchasers are motivated by attractive investment opportunities.
  • 60% buy properties with the intention of sending their children to school in the USA, immigrating or for business purposes.

Sales of investment property in the USA also appear to be booming, with the NAR publishing a study that shows a 64.5% increase during 2011.
Deals on holiday homes saw a 7% rise in the same period.

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