5 of the most important things to consider when buying a home in 2018
If you’re buying a house in London, you may want to consider how the area has changed over the past few years, and how that may impact your plans.
Here are five things to keep in mind when considering where to buy.1.
The rise of high-rise flatsLondon is home to the tallest buildings in Europe and has become increasingly popular for home buyers.
The area’s high rents, combined with its low cost of living, mean the area is a great place to buy a house, even if it isn’t the tallest.
London house prices have surged over the last year, with prices doubling over the course of a year, according to data provider Zillow.2.
The Brexit falloutHouse prices have also risen dramatically in the UK since the Brexit vote in June 2016.
The average price of a property in London rose by more than £20,000 (€23,000) per sqft over the year, compared to the same period last year.
According to the Office for National Statistics, London house values rose by a combined £15.3bn between June 2016 and March 2017.3.
London’s new mayor, Sadiq KhanSadiq Khan has promised to “make London London again”, with the city’s population increasing by around 50% over the next five years.
In his first few weeks as mayor, Khan has already announced plans to tackle affordable housing, boosting the city by over 2,000 flats and introducing new services, including more bike lanes and new bus stops.4.
London has the highest average house price in EuropeThe number of Londoners living in a house has risen over the years, but it’s still only surpassed Paris in terms of house prices.
In 2018, London’s average house was valued at £150,000, compared with £156,000 in Paris.
This compares to £136,000 for Paris, which has the second highest average property value in the European Union.5.
London is expensive to live inLondon is expensive for most people.
As a result, many people who are looking to buy an apartment or house in the city are looking at a higher cost.
As well as the cost of rent, many of London’s apartments are also expensive, with average rents reaching £2,400 per month in 2018.