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Median house prices in London the median house now cost up to 12 times the median London salary. In 1995, the median house price was £83,000, 4.4 times the median income. By 2012–13, the median income in London had increased to £24,600 and the median London house price had increased to £300,000, 12.2 times median income [8]
Domestic real estate represented the largest non-financial asset in the UK, with a net worth of £5.1trillion (2014). [3] Foreign investment plays a substantial role in the UK's real estate market, particularly in London, and foreign companies and individuals invested around £20billion in UK real estate in 2012. [4] [needs update]
OnTheMarket displays hundreds of thousands of properties that are available for sale or to rent every month. [3] In addition, OnTheMarket also displays thousands of new properties for sale or to rent every month, 24 hours or more before they appear on Rightmove or Zoopla to give serious property seekers an edge in their property search.
Domestic rates are the current local government taxation in Northern Ireland. Domestic rates consist of two components, the Regional rate set by the Northern Ireland Assembly and the District rate set by 11 district councils. Rate levels are set annually. The domestic rates are based on the capital value of the residential property on 1 January ...
A poll of surveyors shows most think UK property prices will not be back at pre-virus levels for 11 months, while separate figures show a slight rise in mortgage arrears.
Since abolition of fair rent regulation by the Housing Act 1980, UK house prices periodically surged, taking an unaffordably high share of people's income. Real estate investment trusts, which get tax breaks for buying up residential property, [158] fuel the surge. However, of more contemporary social significance is the lease.
The value of land being eroded by the sea or other natural processes declines rapidly. Land in the centre of large cities may be very valuable, for example £7.2 million per hectare was cited for central London in 2016, [1] compared with around £2500 per hectare for grouse moors in Scotland. [2]
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