These are challenging times for property professionals and the need for short-term finance, to maximise property potential and value, has never been more important. Below we have put together a table of contents, showing the dramatic change in house prices in different regions of the UK to maximise and inspire potential new projects.
| Region / County | 1 Month % | 3 Month % | 6 Month % | 12 Month % | 24 Month % |
|---|---|---|---|---|---|
| England | -1.87% | 0.04% | 3.04% | 8.91% | 9.69% |
| Wales | 0.56% | 1.73% | 4.40% | 15.62% | 14.61% |
| London | -2.01% | -2.09% | 1.00% | 3.26% | 4.72% |
| South East | -2.29% | -0.48% | 2.35% | 4.98% | 7.04% |
| South West | -2.31% | 0.27% | 2.81% | 9.14% | 10.69% |
| West Midlands Region | -0.93% | 1.08% | 3.52% | 11.23% | 11.00% |
| East of England | 0.33% | 1.52% | 4.66% | 8.04% | 9.02% |
| East Midlands | -1.14% | 0.34% | 3.83% | 9.29% | 11.35% |
Sources: Land Registry House Price Index, Halifax House Price Index, Nationwide House Price Index, RICS UK Market Survey
Over the past 24 months, the property industry has gone from strength to strength with house prices increasing drastically, even in the midst of a global pandemic. This is great news for anyone involved in the property market as prices in England overall have nearly reached a 10% increase in 24 months and aside from a minor blip they look like they will continue to grow throughout 2021.
Property price growth has been highest in Wales over the course of 24 months, at 14.61% and is the only one out of 2 regions that have stayed positive at the end of recording the data, this is followed closely by the East of England that is still positive with 0.33% increase in the last month.
The southwest has seen the biggest drop in house prices over the last month with an average reduction of 2.31%, but this could be beneficial though with Cornwall and surrounding areas having very attractive properties that when bought at a lower price could yield great potential returns upon completion of the project.
If you have an investor looking to make a move in the property market then contact us today on 0117 937 4333 or send us an enquiry to enquiries@blackandwhitebridging.co.uk, to find out how we can help.
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