An investigation of the impact of changing residential housing prices in…
An investigation of the impact of changing residential housing prices in London:
House prices in London fell in May at their fastest rate for almost a decade, according to official figures. The Office for National Statistics (ONS) reported a 4.4% decline, on an annual basis, in residential property costs in the capital.
London house prices have been hit particularly hard. They fell 3.1 per cent in May – the biggest drop since the financial crisis – and 2.7 per cent in June, according to the latest official figures.
Which area can you afford to stay in?
SCOTLAND / WALES
Is the 2019 market a buyers or sellers market ?
2019 could be a buyer's market in real estate, but that's not necessarily a good sign for the economy. Home prices, while still higher than a year ago, are pulling back in most major markets
At the moment house prices are still higher than a year ago.
Would you buy a house close to friends / family ?
Are you willing to pay more to live closer to friends / family?
Would you buy a house in an area that has lots of things to do... shops, restraunts, activities ?
Are house prices in London affordable?
All of the evidence suggests that price falls in central London have more than compensated for the increases in stamp duty since 2014.
Other factors that could affect house prices in London
If a deal is reached house prices could rise by 1.3%
UK house prices could fall as much as 6.2% next year if the UK leaves the EU without a deal on 31 October.
People are not buying / selling due to the current situation with Brexit
Is it cheaper to buy / rent houses in the UK (London) ?
When renting you are free to live elsewhere.
Renting is easier on budget over short term.
Areas to buy property ?
Resources that will help me with my project
The greatest trade ever (Gregory Zuckermam)
The complete guide to property investment by Rob Dix
The ABCs of real estate and investing (Ken McElroy)
Arrange to meet estate agent and ask questions about current state of Londons housing market.