It was a pleasure to chat to Bloomberg’s Francine Lacquer and Ray Boulger from John Charcoal about what another rate rise means for London house prices.
Whilst the more debt driven markets of outer prime London and properties in the sub £1 million range are clearly suffering from a reduction in transaction levels and falling prices, the prime London market is faring much better with prices down a nominal 0.2% this quarter, and just 1% on an annual basis (Savills).
Demand for flats makes up 90% of our client base, showing a firm commitment from buyers to return to city living and we have seen a 50% increase in buyers this year compared to last year. Cash buyers are dominating the London market but realistic pricing by sellers is key in order to achieve a successful sale.
If you are considering a London purchase please get in touch. We would be delighted to assist.
Watch the interview here (starts at 11mins 11secs)…