Relatively cheap buildings in London (worth £250,000-400,000 while an average price of property in August 2014 was £550,000) are in great demand. Buyers are lining live queue up to 300 people or even spend the night sleeping in tents and some agencies have already secretly sell only one object per person, says Gazeta.ru, referring to the Evans agency.
"Cheap" houses and apartments are actively sold out in the east and north-east London, where prices are still not as high as in the center. Available by the standards of the British capital housing may be found in the areas of Greenwich, Stratford and in that part of the north bank of the Thames, which was actively developed in the area of former docks in the 1980-90 in times of Margaret Thatcher – today this is area from Canary Wharf to the London City airport.
Generally, these apartments worth £250,000-400,000 are suitable for accommodation or renting out as there are all the necessary furniture, kitchen and household appliances. Resale property in a newly built house in London may bring you up to 15-25% of its original cost.
It is expected that the real estate in the UK, which had already risen in price by 7.8% in 2014, will continue to lose its value. For example, a permanent 17-month increase in average housing prices was first broken in September 2014. Experts say that real estate selling period is increasing in the whole country while the availability of real estate in Greater London becomes a big problem.