Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Central London estate agents see strong international demand

By John M. Alcorn Subscribe to RSS | February 18th 2012 | Views:
loading
 
  



Despite a general slowdown in the UK property market, central London estate agents are still witnessing a high level of demand for properties in London, particularly in Prime Central London where there is a high level of activity among international homebuyers, pushing property prices higher in the process.

The latest figures supplied by Knight Frank show that the average price of Prime Central London residential property rose by 0.9% in January on the back of greater inquiries for property for sale in London. This latest increase pushed the three-month rate of growth to 2.7%, the highest rate since July 2011.

Annual growth now stands at 11.9%, with prices rising 42% since their post-Lehman low in March 2009.

Capital appreciation has also been driven in part by a hike in activity among property investors looking to take advantage of higher rental returns on the back of greater demand for property to rent in London.

Data supplied by estate agents Cluttons reveals that average rents increased by almost 9% between Q4 2010 to Q4 2011, reaching a level 10.3% above the market peak in Q1 2008.

'Foreign buyers, institutional investors, commercial property companies, developers and private buyers are all seeking to cash in on the high level of demand in the market. London has a stable and liquid housing market, making it especially attractive to foreign buyers who are caught up in sovereign debt issues and concerned with wealth preservation,' the Cluttons report said.

According to the report, rents in London regularly exceed £1,000 plus per week in central prime areas of London and since 2000 property values in London, in particular in the prime sector, have consistently outperformed the FTSE 100 over the long term.

Liam Bailey, Knight Frank's head of residential research, comments: "The strength of London's luxury sector, against a backdrop of economic difficulties both domestically and globally, has surprised many over the past year.

"Ironically economic and even political turmoil have provided the impetus for growth - with a sharp growth in investors looking for a safe-haven location for at least part of their wealth portfolio."

The research shows that the sector leading price growth at the current time is the £1 million to £2.5 million segment. Prices in this price range have risen 14.4% over the past 12 months.

Andrew Ellinas, director, Sandfords, said: "Here in central London, property prices remain stable and vendors who seriously want to sell are doing so very quickly if the price is realistic, but few property owners want to sell because central London property is one of those rare classes of wealth that is retaining its value in a world where inflation is creeping up and stock market yields are volatile."

Aside from viewing the London property market as a relatively safe haven from wider economic problems domestically and internationally, Naomi Heaton, chief executive of London Central Portfolio says many overseas nationals are also buying properties in London in order make it easier to send their children to British schools and universities.

"People feel very comfortable here [in London], it is a cosmopolitan society, it is one of the most visited destinations in the world, it is the centre [of the UK] geographically, financially and culturally", said Ms Heaton.

John M. Alcorn - About Author:
John Alcorn gathers comments from various Central London estate agents and finds that there is a high level of demand for property for sale in London as well as property to rent in London.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/real-estate-articles/central-london-estate-agents-see-strong-international-demand.htm

Related Real Estate Articles Subscribe to RSS

Welcome good tenants to your property by choosing the convenient way of screening your tenants
Published by Pamela Walker on March 15th 2012 | Real Estate
Landlords and property managers should understand that bad tenants can give them sleepless nights. S...
 
The Roller Coaster Ride of Rental property Dubai
Published by Mark Castellino on December 1st 2011 | Real Estate
The best way to start up any business in Dubai is to find out the best location first then go for th...
 
Buy residential property on rent
Published by Vicky Martin on June 18th 2012 | Real Estate
Never neglect tenant issues that are brought to your attention. This leads to dissatisfaction, late ...
 
Real Estate Agent can be a good Profit maker for your property
Published by Mayank Gandhi on February 28th 2012 | Real Estate
feedbackhere.com: We provide easy to find Real Estate Agent for consumers vendors to make searching ...
 
Get best property deals through web portals
Published by Maaya on May 15th 2012 | Real Estate
It has become a trend to buy and purchase the property in metro cities, thickly populated and it als...
 
Finding property and buying it becomes with help of Real Estate Agents
Published by Melbourne Realestate on June 28th 2012 | Real Estate
If anything is done by the profession that creates a great impact. Same is in the case of real estat...
 
Port Washington property a true place to gamble your money
Published by Jack Smith on July 17th 2012 | Real Estate
People are ready to gamble their money, but everybody wants to make good money from their investment...
 
Port Washington real estate is one time solution for all property queries
Published by Jack Smith on June 15th 2012 | Real Estate
Anyone can have lot of queries when they go for property dealing. But your all queries resolved with...
 
Sell property on the internet
Published by Glyn Jones on April 23rd 2012 | Real Estate
Internet estate agents make it easier, faster and more convenient for property owners to sell their ...
 
HOA management- Capable providers for financial as well as property management
Published by Ema Sis on January 12th 2012 | Finance
HOA management companies shall be actual asset for communal administration amenities. They undertake...
 
Know some facts before getting in contract for property buying
Published by John Mathews on July 20th 2012 | Real Estate
While you are looking to buy a home, there are certain things that you are to take into consideratio...
 
Rental property- its difficult to find without estate agents
Published by Matthew Watson on April 16th 2012 | Real Estate
A proper research of the property market, its trends and different rents in different localities nee...
 
Seeing the huge growth in commercial property in Bangalore
Published by Prop Tiger on June 14th 2012 | Real Estate
Bangalore has been thought of as an IT/ITeS hub, rightly thus because the major demand for commercia...
 
Bienes raices en Aruba can provide the answers to all your worries related to your property
Published by Sothebysrealty Aruba on March 16th 2012 | Real Estate
The best way to find property in Aruba is to get hold of a real estate agent in Aruba for the best r...
 
 
London property market expected to defy national downward trend
Published by John M. Alcorn on February 27th 2012 | Real Estate
It is booming and blooming in the UK property market if you know where to look. Activity in the prop...
 
When you’re spending it large for property it’s advisable to ease up the conveyancing process
Published by Himton Thomas on February 12th 2012 | Real Estate
If you are looking for a cheap and good conveyancing, you need to keep a few things in your mind....
 
Know about property management in Marlow
Published by Ricky Charles on January 4th 2012 | Real Estate
In most parts of the world, property rates are going up and people who have invested in property are...
 
Estate agents can help in investing in right property
Published by Margett Helms on May 5th 2012 | Real Estate
Estate agents play a key role in dealings of property. The majority of house sales in London are mad...
 
Greater Noida property getting costlier
Published by Sanjay Kumar on August 1st 2012 | Real Estate
In the commercial category for IT/ITES properties, consumers can ought to shell out Rs 29515 per sq ...