Here at Greater London Properties we are one of the Largest Independent Residential Sales and Lettings Agency in Central London. Our Sales Manager Consultant, Oskar Riessbacher responds to recent articles reporting that “Housing market outlook worst ‘for 20 years”.
Central London offers the best of culture, music, food and education and has always been one of the most desirable places to work and live. In line with the popularity of the city, people will always have the desire to be a home owner in one of the greatest cities in the world.
Many national as well as international buyers consider the uncertainty of Brexit as an opportunity rather than a threat. The cost of buying property is cheaper than renting and the Brexit uncertainty helps to keep mortgage rates low and hence the costs of home ownership low. Foreign buyers could take advantage of a weakening currency, which make UK property look more attractive.
Dwindling supply of fresh properties coming to the market has encouraged a large number of sellers to ask Greater London Properties for a valuation of their property and to decide to sell now. A lack of available property means that realistically priced property is selling within a short period of time, and Greater London Properties is confident that this will also be the case in the future.