Cash is king in prime London
Tue 26 Apr 2016
Cash is now king in the prime London market with six out of 10 of purchases made by investors or second-home
In prime central London this figure rose to three quarters of all property purchases.
Buy-to-let investors accounted for one in three prime London property purchases in the first quarter of 2016.
Second-home owners behind another quarter of sales in the run up to the stamp duty surcharge 1 April.
This means that 40% of property sales were made in cash, up from 34% in the previous quarter.
Overall, buyer-demand increased 9% year-on-year in prime London and by 19% in the outer prime belt as buyers
sought more affordable property, according to estate agent Marsh & Parsons latest London Property Monitor.