Outside of London, the prices of British houses increases very much - Rightmove
May 17, 2021, 1:02 pm

Outside of London, the prices of British houses increases very much - Rightmove

By Reuters Staff

Figures from property website Rightmove showed on Monday the prices of British house have risen further over the past month as sellers want to take advantage of an extended tax break on property sales.

Asking prices for property on Rightmove advertised between April 11 and May 8 were 1.8% higher than a month earlier, when they rose by 2.1%. Compared with March 2020 just before the start of the COVID pandemic, asking prices are 6.7% higher at an average 333,564 pounds ($469,892).

However, the national rise masks big regional differences. Prices in London were just 0.2% higher than a year earlier, while those in Wales had risen by 13.0%, with double-digit rises across much of northern England as well.

Tim Bannister, Rightmove’s Director of Property Data, said: “Last year’s unexpected mini-boom is rolling on into 2021, with new price and market activity records again defying many predictions,”

After an initial fall in transactions during UK first lockdown in April and May last year, activity and prices have increased sharply. Many richer Britons have sought larger houses better suited to working from home, and the government cut purchase taxes to spur sales.

In March finance minister Rishi Sunak extended the tax break, which will stay in full until the end of June and at a reduced level until the end of September.

Last year saw a rise in demand for housing in rural and suburban areas of southern England, which has now extended to northern areas, Rightmove said.

House prices in London are still almost three times the average price in northern England, but this is the lowest multiple since 2013 when Rightmove started collecting this data.

Rightmove says property advertised on its website accounts for 95% of property advertised for sale in the United Kingdom.

Source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has announced its sponsorship of the “Innovation and Sustainable Technology Solutions Competition (GU - IST Solutions), hosted by Gulf University at its main campus.
This strategic sponsorship reflects BENEFIT’s active role in advancing technological innovation and fostering sustainable solutions to future challenges. It also seeks to empower Bahraini youth by enhancing their skills, capabilities, and competitiveness in innovation and solution development—contributing meaningfully to the broader goals of sustainable development across all sectors.
As part of BENEFIT’s active involvement in the competition, the company has announced that Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication, will serve on the competition’s supervisory committee. Her upcoming participation reflects BENEFIT’s forward-looking commitment to championing academic and professional excellence.
Commenting on the occasion, Hanan Abdulla Hasan, Senior Manager of Public Relations and Communication at BENEFIT, said, “We are privileged to support this pioneering initiative, which aligns seamlessly with BENEFIT’s enduring commitment to fostering innovation and nurturing the potential of Bahrain’s youth. Our participation is rooted in a deep sense of social responsibility and a firm belief in the pivotal role of innovation in shaping a sustainable future. Through such platforms, we seek to empower the next generation with the knowledge, skills, and foresight required to develop impactful solutions that address future challenges, in line with the United Nations Sustainable Development Goals 2030.”
Dr. Aseel Al Ayash Dean of the College of Engineering in Gulf University commented, “We extend our sincere gratitude to BENEFIT for their generous sponsorship and support of the Innovation and Sustainable Technology Solutions Competition. This contribution plays an instrumental role in helping us achieve the strategic goals of this initiative, namely, cultivating a culture of innovation and sustainability, encouraging efforts that address the imperatives of sustainable development, and enhancing the practical and professional capabilities of our students and participants.”
The event will bring together a diverse spectrum of participants, including secondary school students, university undergraduates, engineers, industry professionals, entrepreneurs, academic researchers, and subject matter experts representing a wide range of disciplines.
The competition seeks to inspire participants to develop and present innovative, sustainable technologies aimed at addressing pressing environmental, social, and economic challenges. It encourages the formulation of business models that integrate advanced technological solutions with core principles of sustainability. Moreover, it serves as a platform for emerging leaders, entrepreneurs, and innovators to contribute to the advancement of the Sustainable Development Goals, promote the ethos of responsible technology, and demonstrate its transformative potential across various sectors.
Attendees will have the opportunity to view a series of project presentations submitted by participants, covering diverse areas such as eco-friendly product design, smart and sustainable innovations, renewable energy technologies, water conservation and management, waste minimisation and recycling, green architectural solutions, and sustainable transportation systems. Outstanding projects will be formally recognised and awarded at the conclusion of the event.