The United Kingdom (UK) is the world's fifth largest national economy and provides a stable legal and regulatory environment in one of the world’s oldest democracies. Its transparent, flexible law and governance makes it an easy place to do business and invest. The UK's well-established diplomatic influence around the world, built on the UK’s cultural and political strengths add to its security. The UK is also home to London, one of the largest financial centers alongside New York and one of the
largest cities in the world. The city has the highest gross domestic product (GDP) in
Europe and the fifth largest in the world. (great.gov.uk)
London - One of the leading global cities
One of the few truly global cities, London is a world leader in the arts, commerce, education, entertainment, fashion, finance and healthcare. London is often regarded as a global cultural capital and is one of the most-visited cities in the world. It plays hosts to more international retailers and ultra high net-worth individuals than any other city in Europe and is among the world’s leading cities for investment. (Schroders' Global City Index)
Of the Top 50 Global Universities, 8 are in the UK, 4 of which are in London. (QS World University Rankings)
A leading global education centre with one of the largest populations of foreign students from all over the world, London is home to world-class institutions, such as the Imperial College London, University College London, King's College London, the London School of Economics and Political Science and the Royal College of Music.
Long - Term House Price Growth and Stability
The London property market has remained stable even under economic crisis and pressures like Brexit and the COVID-19 pandemic. The average house price in London has continually shown steady long-term growth for decades and average prices doubled over the past 12 years from March 2009 (£247,264) to March 2021 (£504,384). Across the UK, average house prices have also shown an increase of over 60% during the same period. (Land Registry Data)
According to JLL, positive forecasts for the UK’s economy have been predicted in the upcoming years. The chart shows that UK GDP growth rebounded in 2021 following the sharp coronavirus-induced contraction in 2020. The recovery is forecast to continue with 2022 returning another year of rapid expansion which should complete the return to pre-crisis activity levels. Unemployment contracts steadily and The Pound continues to strengthen.
5 Year Growth Forecasts
Industry experts are forecasting there will continue to be strong property price growth across all major markets over the next 5 years, potentially culminating in almost 24% growth in Greater London and over 20% growth growth in the UK overall by 2025 as shown by JLL forecasts. They say cities will bounce back more strongly in terms of price growth and rental growth than rural areas as there continues to be a renewed desire to return to more ‘normal life’. This bounce will particularly be felt in 2022 and 2023 as seen in Prime Central London with prices and rents continuing their growth after a strong 2022.
All information correct at the time of the last update (May 2022). This website contains comments and information extracted from full articles and/or reports, the sources of which have been noted below. The views contained within these sections do not necessarily reflect the official views of the Berkeley Group.