Things are looking up for London’s prime property market. Even though sales in the first three months of 2018 were 9% lower than the sales over the past 12 months, it was an improvement over the 20% fall witnessed in 2016 and the first six months of 2017.
The gain can be attributed to buyers’ growing interest in capturing lower prices and leveraging a weaker pound. The Pound has depreciated relative to the Euro, Yen and Dollar since the EU membership referendum. If you’re looking to buy prime residential real estate, now is a good time to contact an estate agent Kings Cross, Covent Garden or Bloomsbury.
Prime London Property
International interest in London’s best areas has been high for many years. However, since the referendum, buyers have begun to exercise caution. This withdrawal is prevalent in the residential space rather than commercial real estate, which continues staying resilient. Spaces, an IWG brand, recently acquired six new flexible workplace locations on Chiswick, Soho, Covent Garden, Epworth House on City Road and Moorgate.
Despite the tricky situation and the ups and downs in buyer interest, London is one of the top places to live as well as an attractive investment destination. Though buyers, particularly younger professionals, are not obsessed with postcodes, many still prefer lively areas that offer easy public commute and are leafy enough to offer a sense of suburbia in the midst of a busy city.
Anyone seeking a neighbourhood with excellent shopping opportunities, creative spaces and an exciting food scene find enough reason to look at flats for rent in Covent Garden, which is home to Theater District, the National Gallery, Royal Opera House and Neal’s Yard. Families or retired folks looking to live in a historic neighbourhood with a tranquil air, a nice choice of restaurants and proximity to London’s best attractions tend to choose Westminster.
Kensington and Chelsea also feature on renters’ and buyers’ plans. Both are desirable and sought-after areas that offer just about everything that you would want from a high-end neighbourhood. Our estate agent London can share current listings and show you around- make the most of lower prices soon.