This Chinese New Year ushers in the wonderful and auspicious year of the Rabbit, which symbolizes patience, peace and prosperity. Since 2011 when we last experienced a Rabbit-year cycle – an incredible 59% increase has been witnessed in UK house prices with annual growth peaking at 10.1% in 2021. With favourable exchange rates this lunar new year brings good news for Chinese investors considering buying property within prime central markets like London; offering discounts as high as 10%.
- Since the last year of the Rabbit in 2011, average house prices in the UK have risen by a total of 59%, with an average annual rate of 4.5% per annum. The largest annual growth in this period was 10.1% recorded in 2021.
- Buyers from China play an important role in the prime central market in London, particularly the new build market and are currently able to get a 10% discount on property prices in the UK due to the exchange rates alone.
- A total of 204,646 residents (0.4% of total) aged 3 and over living in England and Wales have Chinese (Mandarin, Cantonese or Other Chinese) as their main language, according to the Census 2021. Source: Dataloft, Nationwide
