HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
Related Articles
UK house prices are up +8.1% in the year to October, taking the average UK house price to £259,100. Of the UK’s largest cities, Nottingham has the highest price growth at +10.9%.
The Bank of England has made an emergency cut to interest rates and incentivised banks to lend more in a wider package of measures designed to counter the shock of the coronavirus outbreak on the UK economy, which also brings positive impact on the real estate market.
Higher rental values were recorded in almost every region of the UK, rose by an average of 2.1% in September. The average monthly rental of new tenancy in September was £927 compared to £908 in the same month of last year. Compounded by the fact, the demand for rental properties will remain high.
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 15 December 2021, the MPC voted by a majority of 8-1 to increase Bank Rate by 0.15 percentage points, to 0.25%.
From May 2016 onward, there has been a relatively gentle and almost straight-line increase in house prices, despite the Brexit referendum in June 2016.