Property prices in the UK in 2020
Real estate prices in the United Kingdom (UK) vary greatly across regions. In London, its suburbs and South East England, prices per square metre are much higher than the rest of the country. Prices are relatively low in Scotland and North West England.
Property in London is in high demand among foreign nationals. Prime property in upscale districts — Belgravia, Kensington, Knightsbridge and Mayfair — costs several million pounds. Other locations popular with property buyers are the counties around London (Surrey and Sussex) and cities in the south (Brighton, Cheltenham, Bath, Dartmouth, Poole and Salcombe). Additionally, flats are often bought for student lease in cities with large student populations, such as Liverpool and Manchester.
According to Nationwide, residential property prices in the UK grew by 30% and by over 60% in London from 2009 to 2019. Savills analysts expect the price per square metre to grow over 15% nationwide, 10.9% in the east of England and by 11.5% in London (by up to 20.5% in its central districts) from 2020 to 2024.
|Average price (£)||Price increase since 2018 (%)|