26 June 2014 - UK economic data has shown great improvement and reached a new high during the year. Oriental Daily News reported that the British pound has become a popular currency to overseas property investors and students given its low volatility resulting from strong economic support. UK GDP has recovered to pre-crisis levels in 2008, and data released by the National Bureau of Statistics last week also showed that the local industrial output in April rose 0.4% compared to March, up 3% from February 2011 to achieve the highest growth rate since.
London, the primary choice for Hong Kong property investors, has seen property prices skyrocket over the past year. The British National Bureau of Statistics data showed that UK prices increased 5.5% in December year-on-year. Meanwhile, as of January this year, London property prices were stated to have increased 13.2% year-on-year.
