ENGLAND - UNITED KINGDOM

  • Population: 63 million
  • Currency: Sterling Pound (£)
  • The Bank of England is the central bank of the United Kingdom and issues the national currency, the pound sterling; it is the world’s third-largest reserve currency
  • Capital City: London
  • The United Kingdom consists of England, Wales, Scotland (which make up Great Britain) and Northern Ireland
  • Area: Approx. 245,000 square km.
  • Economy: The UK is one of the world’s leading business locations and the number one destination for inward investment in Europe
  • Government: The United Kingdom is a parliamentary democracy – this means the government is elected by the people. There is a general election once every five years. The Prime Minister leads the government with the support of the cabinet and ministers. The UK is a member of the European Union
  • The record 34.4 million overseas visitors who came to the UK in 2014 spent a record £21.8 billion. Britain is forecasted to have a tourism industry worth over £257 billion by 2025

UK PROPERTY MARKET

The UK economy provides a relatively positive backdrop for the housing market. Most forecasters expect GDP to rise by upwards of 2.5% this year. In line with this outlook, the latest data from the Knight Frank/Markit House Price Sentiment Index confirms that an increasing majority of households are expecting house prices to continue to rise over the next 12 months.