Liquid error: wrong number of arguments (2 for 1) Cash is king in Londons prime property market | Marsh & Parsons Sales and Lettings Estate Agents London

Blogs, Press & Media

Cash is king in Londons prime property market

Tue 26 Apr 2016

More than a third of prime London property acquisitions made by buy-to-let investors in the first quarter of the
year were made with no debt, highlighting the importance of cash in powering the market for prime property.

Three-fifths of buyers in the prime market, which is concentrated largely in central London, did not take out a
mortgage when buying their home, according to new research by estate agent Marsh & Parsons.

Accounting for 36% of all sales during the first three months of 2016, buy-to-let investors were the most prolific
type of purchaser across prime London, as investors rushed to beat the introduction on 1 April of an additional 3%
stamp duty for anyone owning more than one home.

Together, buy-to-let investors and second-home owners accounted for 59% of all purchases in prime London
during Q1. In prime centra London, this figure was even higher reaching 76%.

David Brown (pictured), CEO of Marsh & Parsons, commented: Investors will always be the stalwarts of the
prime London property market its the golden goose of capital returns, and people are still clamouring for a slice
of the action. But second-home owners really jumped to it this spring too, and were much more prominent in the
market than we would typically expect. But this was by no means a typical quarter.

Sales activity in the opening three months of this year has been exceptionally skewed by the additional layer of
stamp duty for both buy-to-let and second-home purchases. Naturally, theknee

Contact our office

Close

Contact our Lettings team

Close

Contact our Selling team

Close

Contact our About us team

Close

Contact our Corporate Services team

Close

Contact our International team

Close

Contact our Land and New Homes team

Close

Contact our Professional Valuations team

Close

Contact our Professional Services team

Close

Contact our Property Management team

Close

Contact our Riverside Properties team

Close

Contact our Career team

Close

Contact our office

Close

Request a viewing

Close

 

Close

Share this with a friend

Close