UK residential property market looking up
There are encouraging signs in resi.
Data house LonRes has crunched the numbers on the change of the cost of buying in prime central London in world currencies. Over the past 12 months it has become 16% cheaper to buy in Aussie dollars, 13% cheaper in Malaysian ringgit, 17% cheaper in euros, and 18% cheaper in US, Singaporean and Hong Kong dollars.
All is not lost for domestic residential buyers either. Jennet Siebrits, head of residential research at CBRE, said this week: "Despite the outcome of the EU referendum, our current forecasts remain broadly unchanged and we expect UK house prices to grow by an average of 3% this year."
19 Aug 16