The latest from the London property market
Wed 02 Sep 2015
Welcome to my latest video blog in which I give my view of how the London property marked has fared in recent months. Overall, it has been an interesting year, the focal point of which was arguably the General Election. In the early part of the year, people held tight, waiting to see what would happen on May 7th and following a surprising result on the big day, the market has begun to return to normality.
Although there hasnt been much excitement with regards to price rises in the overall Prime Central London market, there have been a few hotspots in the last quarter, namely Pimlico and Earls Court, which have seen growth that far surpasses that of their neighbours.
Prime Central London has remained a stronghold for investors, and in the last quarter, 42% of all property sales were to investors, both national and foreign. We consider these high levels of investment a resounding vote of confidence in the London property market, as well as the lettings market.
Stamp Duty will remain the main challenge for the London market going forward and sellers will need to lower their expectations slightly, while buyers will need to be willing to part with a little bit of extra cash; with the hope that, along with the support of their estate agent, they will meet somewhere in the middle. However, London still remains the most amazing city, a wonderful place to live, work and play, and will no doubt continue to attract people from all over the world.
View the video blog here
Read the full report here: London Property Monitor Q2 2015.