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

Get the best value of your property with Folsom Property management
Published by Nishaidhijames on August 23rd 2012 | Real Estate
Sale and purchase of property is an important part of man’s life. A person always tries to buy a h...
 
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 ...
 
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...
 
Looking to buy a commercial property in Gurgaon?
Published by Mike Nicholson on March 20th 2012 | Real Estate
Do you want to have your office at a prominent location where you can proudly invite your clients? D...
 
Hurry up to purchase your dream property in Aruba
Published by Sothebysrealty Aruba on March 16th 2012 | Real Estate
Due to an increase in the importance of Caribbean land, the real estate business in Aruba is the pro...
 
Guarantee continuous income with sensible property investments
Published by Sophia Milller on December 13th 2011 | Real Estate
There are so many places where you can invest your money. Buying assets is the best thing to do when...
 
How Booking Back After Your property is Sold.
Published by Moazzam on May 5th 2012 | Real Estate
Sometimes it’s useful to sell your house before you actually want to move. This frequently happens...
 
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...
 
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...
 
Why one should invest in property in Greece?
Published by Greekexchange on January 10th 2012 | Real Estate
Greece is one of the most beautiful places in the world; people from all over the world visit this c...
 
Choosing trustworthy property consultant is beneficial
Published by Deepti on May 4th 2012 | Real Estate
Mohali is a full-fledged market of real estate. It is major part of tricity though it has now a sepa...
 
London property management services growing increasingly important
Published by John M. Alcorn on February 18th 2012 | Real Estate
Many landlords take property management for granted. But with rental prices at an all-time high and ...
 
Seeing the Huge Benefits in purchasing property in Greater Noida
Published by Sanjay Kumar on August 9th 2012 | Real Estate
The investment within the property will never move into vain as a result of the property rates withi...
 
Online estate agents to sell your property
Published by Matthew Watson on April 29th 2012 | Real Estate
Using an online estate agency will allow property owners to perform the majority of the sales proces...
 
Building a "Buy to let" property portfolio
Published by Jordan Beard on May 9th 2012 | Real Estate
Investing in a portfolio of rental properties in desirable areas throughout the UK is a sure fire wa...
 
Real Estate property in jaipur, Rajasthan
Published by Mohit Singh on May 29th 2012 | Real Estate
RealPropertyIQ has seen development in real estate but the real estate pundits proclaim by everythi...
 
Mohali property offering plethora of investment options
Published by Deepti on April 12th 2012 | Real Estate
Mohali, often termed as the Eco town of Punjab, is emerging as the favorite place for property in...
 
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...
 
Things to consider before property foreclosure
Published by Matthew Watson on July 5th 2012 | Real Estate
When you are to mortgage your property there are certain things that you can do to enhance the overa...
 
Bookings of residential property in Gr Noida is back on track
Published by Sanjay Kumar on July 20th 2012 | Real Estate
Apartment bookings in Greater Noida close to Delhi have resumed once authorities recently approved a...