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London's housing market exceeds 1.5 trillion GBP

London housing market

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The growth of housing prices in London is slowing, but they are still twice as high as the total property value of the next nine largest cities in the UK, including Bristol, Glasgow and Birmingham. The total London’s housing market exceeds 1.5 trillion GBP (1.7 trillion EUR), which is more than twice the cost of housing in the other nine cities.
Bristol ranks second in total, with a total of 115.21 billion GBP (130.7 billion EUR). It is 27 times higher than the Sheffield property, the city with the lowest total housing value of 55.67 billion GBP (63.27 billion EUR). Sheffield, however, recorded the most significant price growth of 5.6% in 2017.
Glasgow reports prices growth of 5.4% to a total of 90.75 billion GBP (103.14 billion EUR).
The biggest gap between London and the other major British cities remains, although the British capital reports the slowest house price growth in 2017 by 1.5%.
It’s not surprising that the value of the London housing market is significantly higher than in other British cities. But the data shows that, compared to the cities in the north and beyond the border with Scotland, the rate of growth in London slows down.
The study also examines the areas in individual cities where the total value of properties is particularly high. In London SW1 area, including wealthy neighborhoods Belgravia, Westminster and Pimlico, it is the most expensive in the city with a total value of housing of 54.57 billion GBP (62.02 billion USD), almost as much as the entire residential market in Sheffield.
The luxury neighborhood BS16 Bristol is the most expensive in the city with a total value of property 10.1 billion GBP (11.4 billion EUR) and in Glasgow the most expensive neighborhood is G12, which includes the West End and Glasgow University, where the total value of the property reaches 4.27 billion GBP (4.85 billion EUR).