London’s property market lags behind the rest of the UK regarding average property price performance. Still, it is among the top four most desirable markets worldwide regarding yearly property price increases.
EasyMoney, a peer-to-peer real estate investing platform, analyzed property market prices in 15 of the world’s most desirable property market hotspots, focusing on annual home price rises and the markets’ evolution since the outbreak.
The data demonstrate that Miami has the highest yearly home price rise worldwide. The annual increase in the city’s home prices was 23.7%, while the increase from the fourth quarter of 2018 to the first quarter of 2019 was 56.2%.
Vancouver’s market performance ranks second in the wake of the pandemic, with home values increasing by 53.7% from Q4 2018 to Q4 2019. Other top-performing worldwide hubs since the pandemic’s inception include Los Angeles (30.5%), Berlin (25.6%), Dubai (20.2%), and Auckland (20.1%). Since the fourth quarter of 2018, real estate prices in Geneva have risen by 7.4 percent, the lowest pace in the top ten, while London’s prices have risen by 13.1 percent, the most of any major city.
When looking at how the market has performed over the last year, however, signs point to a return of strength in the London market.
Real estate prices in Dubai have increased by 10.2 percent yearly, making it the second most rapidly appreciating market in the world after Miami (where prices have increased by 6.2 percent).
London’s market is growing at a pace of 6.3% per year, putting it in fourth place worldwide, only behind Madrid and ahead of New York’s 5.8% annual growth rate.
The only global hubs to show a fall in market value over the previous year are Auckland (-18.1%), Melbourne (-11.7%), and Sydney (-8.8%).
The CEO of easyMoney, Jason Ferrando, believes that compared to the rest of the country, London’s housing prices have increased slowly since the recession began. Regarding raw property prices and international appeal, it is safe to argue that London remains the crown jewel of the British property empire.
“London’s real estate industry took a hit from the global pandemic, but things are picking up steam, which is beginning to influence home values.
“We predict the capital’s strong performance to continue throughout the year, placing it at the fourth place on our worldwide list of property hotspots in terms of yearly home price rise.
