Home prices in the capital are now almost 15 times the earning of the average London resident. In 2017, the level grew 42% higher than the sustained average of 14% seen in the past 15 years. Over the next 2-3 years, with mortgage rates remaining low and the economy looking up, house prices are expected to continue rising.
A latest report from the IPF European Consensus Forecasts of Prime Office Rents predicts that office rental rates in London will fall by 3.9% next year. Fund managers who contributed their views to the IPF report say that Brexit will most likely be a spoilsport for the city’s landlords in the months to come.
London’s home prices declined in the third quarter, marking the first year-on-year fall since 2009. While British investors are shying away, Indian buyers are lining up to buy central London’s prime properties. Estate agents Kings Cross have noticed a lot of buying activity in and around Kensington.
Hong Kong investors are also showing interest in London’s properties, attracted by the capital’s high yields and driven by their own country’s political uncertainties.
Estate agent in London
If you would like to speak with a London Estate Agent please call a member of the Greater London Properties Team who would be delighted to help. We specialize in Residential Sales and Lettings plus Commercial Offices and Retail. Our branches are based in our Soho and Bloomsbury the team are always on hand to discuss property in Central London.
Call Greater London Properties, Estate Agent London today on 0207 113 1066.