Prime Country Homes Price Boosted Even As Market Slows Down
The prices of rural area houses showed a rise by 3.4 percent in 2014 despite the economic showdown experienced. Prospects of very high interest rates, election jitters as well as tight lending of mortgages did not deter the prices from rising as well as the demand for the houses.
Of course the houses are spacious and luxurious and continue to attract home buyers who are looking to swap city living in the country, a trend that has been taking shape in 2015. With better commuter transport in country areas, especially outside London, families and working people are considering looking for a place to stay far from the city, usually less than 60 minutes from their place of work. The prices have also been reported as good and manageable while serenity that comes with the package is a whole new experience.
There are a number of interesting statistics attributed to the UK economy every UK property investor might want to know, particularly in the previous year and early 2015.
In the first half of 2014, a rather significant growth was experienced. A slowdown characterized by the tighter lending of mortgage in the second half of the year was also very clear, including the impending election in May and higher interest rates prospects.
Prime markets located in the south west of England which includes Bristol, Bath and Sherborne had a very good performance. This was boosted by increasing property values in the capital and commuter towns around, something that has protracted into 2015.
The busiest day in 2014 was December 3 as far as transaction levels is concerned. The buyers closed deals valued above £937,500 even before the regulations of the new stamp duty had started functioning.
Homes with about a single acre of land and four bedrooms ended up with the greatest growth in price with values going up by 6.8 percent in the course of the year. Farmhouses that had around 6 bedrooms or more plus a huge number of acres of land improved in terms of price at an average of 3.4%. The values of manor houses with extended grounds moved up by 1.4%.
In Scotland, prime countryside houses went up by 0.2 percent in the first half of 2015, from January to the month of March; a modest increase than what was seen in the last few months of 2014. Scotland has also continued to draw property investors from outside just like other areas around the UK, with data indicating that over half of property buyers or 57 percent of all buyers, were not from Scotland showing the country’s appeal globally. The trend has continued into the New Year with investors from London, UAE and Hong Kong buying properties in Scotland between January and March, 2015.
The figures indicated that while 31 percent of investors were mostly from various UK locations where 12 percent were from the English capital alone, Middle East and Asia held 5 percent each of property investment in Scotland. North America property investors in Scotland stood at 2 percent and Europe at 2 percent as well.