Stockport Property News
2023: The year of the Rabbit
Tom Simper
Jan 20, 2023, 10:15 AM
This year, Chinese New Year falls on the 22nd January, beginning the Year of the Rabbit. The rabbit is one of 12 zodiac animals and it represents patience, peace and prosperity.
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
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