The UK economy is accelerating out of recession with GDP rising by another 0.9 percent in the second quarter (+3.2 percent over the past year) and is on track to record 3.5 percent growth in 2014.
By way of contrast price in regional Britain have barely increased since 2007.
London boroughs where we have bought property for our clients (and personally) have done very well and outperformed the market over the past 12 months, including:
- Ealing +23 percent capital growth
- Greenwich +26 percent capital growth
- Croydon +24 percent capital growth
- Islington +26 percent capital growth
For all that, despite a pick-up in construction activity, supply is still only tracking at around half the levels required to keep pace with demand, so it's as you were in that regard.