Just when you thought UK housing prices would head South, the Office for National Statistics reports house prices in the UK increased by 8.2% year on year in April. London grew 14.5% in the year. Some analysts say the increases in stamp duty for buy-to-let investors and the upcoming EU referendum had dampened activity on the housing market, but an ongoing supply shortage will likely fuel house prices.
But clearly the statistics don't reflect some realities in the market such as time on market...many homes are taking longer to sell. And the larger properties have witnessed countless price reductions to becoming appealing to buyers.
A drop in the pound has also proved to be an advantage to International buyers who continue to see London as a safe legal and stable investment environment.