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London ‘has most expensive homes’

House prices have gone up this year in nine out of 13 UK property regions, according to new figures from Nationwide.

The firm said a wide variety of house price changes have been seen across the country, with London experiencing a 5.4% rise in 2011, compared to a fall of 8.9% in Northern Ireland.

Across the UK as a whole, the research showed that a 1.1% rise in house prices has been recorded over the last 12 months, with the average property costing 163,822 during the year.

Some of the cheapest house prices can currently be found in Northern Ireland, where a typical home costs just 113,614.

Meanwhile, London has the most expensive properties, with an average house price of nearly 300,000 recorded in the English capital city.

Robert Gardner, chief economist at Nationwide, said: “Thanks to continued low interest rates, the number of forced sales remained low. Together with a dearth in building activity in recent years, this prevented a

Some houses cheaper than London parking space

In Middlesbrough, the average house costs 82,300.

In central London, the cost of a car parking space can be as much as 13,500 more expensive.

The findings have been revealed in a study carried out by mortgage provider ING Direct which highlighted how wide the price gap in the UK property market between London and the rest of the country has grown.

Around 250 surveyors across the UK were quizzed for the study which found that a parking space in a property in Kensington and Chelsea was estimated to add around 95,800 to the selling price of a home.

As well as a parking space or garage, the study found that house prices are also boosted by being in a catchment area for a sought-after school, being close to a train station and having a garden

While house prices in London have crept up by 0.3% over the past year, they have fallen in other regions, with prices in

London buy-to-let investors smiling

London is still the prime location for buy-to-let investors, as rental rates rose faster in the capital than in any other UK region over the past year.

Amid a flagging market, London’s annual increase in rental rates remains significantly higher than other parts of England and Wales. Rental rates in the capital rose 5.7% in October. This outstrips other well-performing regions – a 4.6% rise in the West Midlands, and a 4.4% climb in the South East.

The LSL Property Services’ Buy-to-Let Index shows rental yields – the amount of income an owner receives per year expressed as a percentage of the property’s value – also rose in the capital. They increased to 5% last month from 4.9% in October 2010.

However, the rate at which rental rates are rising has slowed, and the annual increase to 5.7% in October does represent a fall from 5.8% in the previous month. But rents have now risen for nine months in a row

This can make looking at home charges across the United kingdom quite tricky, as there are so many regional variations.

Several men and women will enlist the companies of a London mortgage loan broker to help them get the all-important funding for their buy. London mortgage brokers should be in a position to offer completely independent house loan suggestions, looking the Uk home loan market to locate the most competitive offer, one that matches the client’s wants and circumstances.

The average price of a Higher London property was &pound354,529 in August 2007. Nonetheless, even that figure hides a multitude of detail powering it. For instance, the common for detached homes was &pound718,096 for semi-detached the common was &pound387,176 for terraced properties it was &pound374,655 and for flats the typical cost was &pound301,884.

The previous quarter has observed an overall 3.nine% rise in Better London, and the final 12 months has witnessed an eleven.six% rise. Revenue in the final quarter had been 35,171.

There are wide regional variations even within London itself. At the leading of

Rents in London increase by 7.1%

Rents have risen faster in London over the last year than in any other part of the country, according to figures from estate agents LSL.

There was a 7.1% increase in average monthly rents in the capital to 1,009 but UK property rents across most other regions also shot up over the year with hikes of 5.5% in the North East and 4.8% in the Midlands.

On a month-to-month basis the steepest increase from June to July was recorded in the South East, with rents up by 1.7%, while the East Midlands followed closely behind with a 1.4% rise.

Rents fell in July from what they were in June in some regions such as the West Midlands, Yorkshire & Humber and the North West, but the overall trend is higher, said LSL.

The finances of people renting accommodation are now expected to get worse as the economy struggles and public sector job cuts come into effect, LSL predicts.

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London 2012 ‘boosting house prices’

The decision to host the 2012 Olympics in London has helped boost the value of UK property positioned close to the main site of the Games, figures suggest.

Since July 2005, when London was officially confirmed as the 2012 host, Lloyds TSB indicates that an average property price increase of 58,582, or 28%, has been seen in the 14 post districts based nearest to the Games development site.

While the average house price in these areas stood at 208,148 in July 2005, it reached 266,730 in May of this year.

Lloyds TSB housing economist Suren Thiru said the house price performances of individual East End districts have been quite mixed.

However, he added: “Interest in the East London housing market from both buyers and investors has increased markedly since London was awarded the 2012 Olympic and Paralympic Games, partly reflecting the substantial regeneration taking place there.”

Copyright Press Association 2011