London is a bustling global hub that has a continuous metropolitan area of over 12 million people. People are drawn to the city for employment, education, entertainment, culture and history. The population is ever growing and the land available for residential development is restricted by green belt planning. As the demand for housing goes up so does the cost.
UK property values fluctuated during the 2008–12 recession. Data from the Land Registry (the national organisation through which all house sales and purchases must be processed) show that the majority of regions experienced a fall in prices at some point during the economic downturn. The worst 12-month period was April 2008–April 2009 when areas of the country such as Warrington, Blackpool, Stoke-on-Trent and Cornwall experienced a fall in house prices of up to 15%.
Your organisation does not have access to this article.
Sign up today to give your students the edge they need to achieve their best grades with subject expertise
Subscribe
