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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]
The consequence of this is seen in the high price for top-end dwellings. The most expensive home ever sold in the UK was 2–8a Rutland Gate, Hyde Park, which sold for £280 million in 2015. [62] The most expensive street in the UK is Kensington Palace Gardens, London, where the average price of a home is approximately £42 million. [63]
The affordability of housing in the UK reflects the ability to rent or buy property. There are various ways to determine or estimate housing affordability. One commonly used metric is the median housing affordability ratio; this compares the median price paid for residential property to the median gross annual earnings for full-time workers.
It also includes analysis by geography, type of buyer, type of dwelling, property status (whether the property is a new build or not), and funding status (cash or mortgage). Several guidance documents[2] are published alongside the release explaining its methodology and the difference between the different sources of official house price ...
From Wikipedia, the free encyclopedia. Redirect page. Redirect to: Affordability of housing in the United Kingdom
In the UK during the 1980s, the Thatcher premiership passed the ‘right to buy scheme,’ which saw 3 million council houses sold at a price between 30% and 70% below market prices. [24] In France, liberal housing policies gained ground in the 1970s, enabling the rise of residential suburbs. [ 25 ]
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Since January 1990, the percentage of UK housing stock in the private rented sector has grown from 9 per cent to 19 per cent but mostly due to the growth in the residential buy to let investor, who either purchases the property outright, or applies to a bank or building society, and gets a buy-to-let mortgage on the property. Since 2010, UK ...