Looking for a good place to buy a house in 2012, but not sure where to look? Here's a quick rundown of average property prices in the UK, plus a listing of some good prospects abroad, to help you out.
UK property
In London and Wales, average home prices have been pretty steady, playing just between £150,000 and £165,000 from November 2010 to November 2011. In Scotland, however, things have been more volatile. The average price of property there has fallen to as low as £142,000 in March 2011 and has shot up to nearly 166,000 in July.
From September to November, Scotland property prices have seemingly stabilized at around £158,000 but there's no telling how long that stability will remain. (On the other hand, the more sceptical among us could say that exactly the same thing can be said for Wales and England property, all things considered.)
As of November 2011, the highest property prices can be found in London, with averages running at nearly £350,000. Month change is at 0.8%.
The biggest month change can be seen in Glasgow, at 4.4%. Average property prices there are at around £140,000.
At the other side of the coin, the lowest property prices in UK have been at the North East, at close to £102,000. Month change there has been at 0.3%.
Prices had fallen most in the East of England, with -0.6%. Average prices there are roughly at £123,000.
Property abroad
For overseas property, the top destinations have been Spain, France, and Portugal.
In 2011, France overtook Spain as the number one place where Britons are searching for property to buy. Reasons given for looking at France include the slower pace of life, the good food and climate, value for money, and nostalgia because of its great history and culture.
Buying property in France is a pretty safe and straightforward transaction. It's unlikely that you will experience any of those overseas buying horror stories we all sometimes hear.
Spain, of course, is still a favourite. For years, it's been Europe's most popular vacation place, and it's no surprise that some of the vacationers eventually decide to stay and purchase property there, especially since the rural retreats are so reasonably priced and the process of property buying in Spain, like in France, is quite easy for EEC nationals.
And then there's Portugal, the third country where UK citizens have chosen to either buy their second homes or reside permanently. Portugal's popularity actually comes as no surprise, as the country's allure is very similar to its Spanish counterpart's: the relaxed way of life, the festivals, the food, the landscape, the warmth of the people. Truly, many of the things you can find in Spain, you can also find in Portugal.
In addition, a UN and Gallup survey has named Lisbon to be the safest capital in the European Union. Also the property in Portugal for sale is wide and varied from city apartments, beach homes to large villas with swimming pools.