The team at Experience Invest always keep a keen eye out for the latest house price figures from the Office of National Statistics (ONS), and the latest House Price Index for July 2015 contains some interesting reading for those interested in property investments trends.
Here at Experience Invest, we recently celebrated over ten years in business (you can read about our celebrations on Yahoo Finance), after over a decade in property consultancy you’d expect that we’ve seen every sort of property market trend come and go, but we can’t think of a time before when the East of England over took London in property growth, but for July 2015, it did.
East of England property
Property prices in London saw their biggest gains last year, and in to the year-end July 2015, London property prices rose 5.5% which was slightly lower than the 5.6% average in England. However, prices in the East of England rose by 8.3% in the same period.
The East of England rise has been interpreted by some commentators as the ‘action leaving London’. However, we’re more likely to see this as the knock on effect of last year’s property rises in the capital. Now, priced out of the area many buyers and looking at the East of England and heating up the market there. We believe the action in London is set to continue but the higher prices in the capital are now dictating a slightly slower pace in the market.
Other interesting statistics thrown up by the ONS report is the recovery currently taking place in Northern Ireland. The financial crisis hit property prices everywhere, but few places were as badly hit as Northern Ireland. Indeed, even today prices are still 42% below the 2007 peak. Northern Ireland has reportedly seen a 7.4% rise in the year to July 2015. This is encouraging news for the property market in this area.
The South East of England also saw 6.7% rise, although, like London, the market is showing signs that it is slowing down slightly. There’s no doubt that some of the commuter areas are heating up slightly due to the slowdown in London, but this will only last while there is still value outside of central London.
Experience Invest have been trading since 2004 and we’ve worked with all types of investors from first timers to high-NET-worth individuals and corporate clients. As market leaders in UK residential investments we’ve featured in The Telegraph newspaper and on Yahoo Finance. We specialise in high demand, high yield property investments. For more information, or to discuss your own investments needs please contact Experience Invest.