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 sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”