Every month, the Land Registry publishes the Price Paid Data that details the sales of land and property. The latest report covers May 2018 and lists over 83,400 sales.
The most expensive residential property was a detached house in London’s Royal Borough of Kensington and Chelsea, which sold in May 2018 for £15,750,000. The cheapest residential sale was £9,500 paid for two properties in Rushden, East Northamptonshire.The most expensive commercial property was £92,500,000 paid for a building in the City of Westminster. The least expensive commercial sale was £555 paid in Stockport, Greater Manchester.
House prices fell in May by 0.2%, but according to a report by Colliers International, commercial property (apart from the retail sector) is performing well. There is a shortage of A grade office space, particularly in London, and this has increased rents.
Manufacturing output grew by 0.3%, but this compares to 1.1% in the last quarter of 2017. This has meant that demand for industrial property remains stable but has not increased.
For people investing in property, good returns can still be achieved, but this very much depends on the location and property sector. For both privately rented residential and commercial property, rental yields and capital growth varies between regions, with many North of England towns and cities showing better rental yields than London or the South East.
Commercial mortgage and bridging loan interest rates remain low, with many lenders offering competitive loan deals for purchasing buy-to-let and commercial property.
