Wealthy buy­ers boost mar­ket

Yorkshire Post - Property - - PROPERTY -

De­mand for prime prop­erty in­creased in May, push­ing up prices as the coun­try’s top end mar­kets es­caped the ef­fects of the po­lit­i­cal un­cer­tainty, ac­cord­ing to Prime­lo­ca­tion.com.

The av­er­age value of a prime prop­erty rose by 0.6 per cent to £452,563 in May and ex­pe­ri­enced an­nual growth of 1.9 per cent. The North-East (1.8 per cent), South-East (1.6 per cent) and London (1.4 per cent) were the top per­form­ers.

An­drew Smith, re­search di­rec­tor says: “Wealthy UK and over­seas buy­ers do not have to over­come the bar­rier of ob­tain­ing the nec­es­sary fi­nance. In ad­di­tion, they are less likely to feel the ef­fects of any po­ten­tial changes to tax­a­tion.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.