The Barclays UK Property Predictor provides great news for home owners with assets in Richmond Upon Thames. The research, released at the end of June, claims that between now and 2021 house prices in the Borough will rise by an incredible 39.10%. This would make the area the hottest area for property in the whole of the UK.
The figures offered are compiled using a mix of data. For example current house prices, rental trends, employment statistics, and commuter details are all utilised. This gives a better picture of what the increases in value can be expected to be.
If the predictions prove to be correct it would see the average house price in Richmond Upon Thames rise from £778,193 in 2016 to £1,082,467 in 2021. This would see the Borough join the exclusive group of areas with an average price over a million, including prime markets like Westminster and Kensington and Chelsea.
The research has positive predictions for most of the UK. The figures estimate that the average house price in Britain will rise by 6.1%, putting the value just shy of £300,000.
Region by region London is the big winner once again. It is estimated that the average increase in property values over the next four years will be 11.88%. This puts it well ahead of the following regions, including second placed East (9.38%) and South East (8.74%).
In response to the anticipated rise in values Richmond Housing Partnership revealed LaunchPod on July 12th. The solution will focus on offering more accessible social rent in the area. A number of homes will be priced at 80% of market rent, reserved for people with earnings between £15,000 and £45,000 per year.
At Finefair we offer a wide range of services for clients. Those looking to hold on to assets in anticipation of rising prices can choose a number of different options. One area where we are highly experienced is arranging council leasing Richmond Upon Thames clients can rely on. With our help properties can be made available to tenants found by the local authority. This delivers a set income each month and great assurances.