City escape in the midst of crisis: Britons leave London and buy in bulk country houses

So much hustle and Bustle has seen the UK housing market rarely. In July, the British spent so much money on real estate, most recently in March 2008 shortly be

City escape in the midst of crisis: Britons leave London and buy in bulk country houses

So much hustle and Bustle has seen the UK housing market rarely. In July, the British spent so much money on real estate, most recently in March 2008 shortly before the financial crisis. And a Trend is clearly visible: to get Out of London, up in the country. While prices in the capital fell then, clearly, they have risen in seven rural regions like Cornwall and Devon to record highs.

The unusual output trend in the middle of the Corona-crisis is exactly fuelled by this. As in Germany, so many Britons have come to know in the past few months, the benefits of the Home Office and learned to appreciate. And they will keep for quite a while: 62 percent of all companies said last week in a survey that at least some of their employees in the coming year, still at home had to work. At the same time, the government published new concepts for the case that the pandemic is exacerbating once again. Particularly in the densely populated London would also expect output to lock to.

fall in the prices of London real estate attracts a whole country down

Such developments are driving the British out of the big city. On the Land there is a relaxed living, you can still work from home and not live with so many neighbors close to each other. In addition, government house supported purchases. She is not currently on the so-called "stamp tax", a tax in the purchase of land due. Low interest rates of the Bank of England do their part to make citizens the investment palatable. Bernecker exchange - compass orientation for your Depot. Clear. Compact. Competent. (Partner offer) Now for 30 days completely free trial!

The July reached a volume of 41 billion Euro to a current maximum, but the General Trend holds for the whole year. Curiously decreased the prices of houses in the past month across the country on average, even. But that is only with the slump in the prices in London. Because the real estate market is so huge and important for the national statistics, he draws the whole of the UK cut down.

house prices rise, but experts are critical

Compared with the previous year, the development for home owners but it is pleasant. The property website Rightmove registered an increase in the value of real estate by 4.6 percent. This is the steepest increase since the Brexit Referendum in 2016. In the meantime, the development was located close to the zero line.

The website assumes that the Trend in the coming months even more so. "There is an additional demand, because people have changed their residential priorities after the Lockdown experience," says Rightmove-chief Miles Shipside to Bloomberg. The dramatic economic development of great Britain is.

The gross domestic product (GDP) fell in the second quarter by 20 percent, as much as in any other large economy. In addition, a government runs in the fall program, the company in the payment of salaries supported. Experts fear that the unemployment figures could rise. Accordingly, less money for the house would be purchases.

In Germany, Corona no influence on the real estate Boom

A similar Trend as in the UK, in Germany there is not. Here are the real estate prices continue to rise for around ten years. The Corona-crisis has dealt only in April a small steamer. According to a recent evaluation of the Hamburg-based GEWOS Institute for urban, Regional and housing research, and the portal Immobilienscout24, the prices of houses rose in the second quarter by 3.6 percent compared to the previous year, wherein there were hardly a significant difference between large cities and smaller places. Condominiums have risen by as much as 8.5 percent. Gold Guru Thorsten Polleit: how to protect yourself from the currency Crash

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According to the German construction industry continues to flourish. From January to may, their turnover increased compared to the previous year, to 5.6 percent, the number of employees, in spite of Corona even by 1.7 per cent. This also includes companies that, for example, build roads or rails and underground lines, however, are.

And one more thing is different in Germany: In the case of a house purchase, you continue to pay the full land transfer tax.

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Updated Date: 01 October 2020, 08:26

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