According to leading industry data, house prices across the UK rose at their fastest rate for eight months in September, with investors clearly drawn to property as a preferred asset class. The data revealed an average 4% price rise between July and September compared with last summer, representing the market’s highest growth figures since February this year.
The Office for National Statistics (ONS) also released its first analysis of the cost of property prices in England and Wales by square metre this week, unveiling a number of critical insights for real estate investors. 19 of the 20 most expensive property locations per square metre were found to be in London, with Kensington and Chelsea both valued at £19,439, while parts of Lancashire and South Wales were listed among the most affordable, with Blaenau Gwent coming in at £777.
The ONS analysis also found that the average size of new flats being built in England and Wales have grown by 18% over the last three years, but there has been no change in the size of new-build houses since 2014.
These statistics underline the value of refurbishment and restoration projects in enabling investors to make best use of UK property investment opportunities. To support aspiring investors in enacting their investment ambitions, MFS recently launched FlipFinance2017 – a dedicated, industry-first funding pool valued at £40 million.
To find out more about the growth of the UK property market over the past ten year, download a copy of MFS’ latest market intelligence report – ‘The 2007 Global Financial Crisis Ten Years On: A Decade of Growth for UK Property and Bridging’.