As our team of estate agents in London
can attest, the Capital's property market has for over a decade been famed for its resilience to recession, demand that continues to outstrip supply and returns on investment that are still hard to equal elsewhere.
The figures speak for themselves. Even the most conservative house price index puts London’s average house price at nearly two and a half times the national average and in London’s most expensive borough, Westminster, the average price is over five times that national figure.
London is also one of the places in the UK where house prices have recovered their pre-banking crisis peak and in fact are now 17% higher. In 2013 prices in London rose on average by 12%, the official government index has revealed.
Why the London property market has performed so well is a matter of conjecture rather than fact but several clear trends have emerged. Significant investment by foreign nationals buying up central London’s residential districts has pushed more traditional wealth out into outlying areas of inner and outer London. This has helped create new property hotspots, particularly in the South West of the city; there has never been a better time to invest in property for sale in Fulham
, Battersea, Wandsworth, Clapham and Balham.
Lack of housing stock suitable for families seeking period property has also helped raise prices, our negotiators continue to report. Competition for the limited number of properties coming onto the market has helped demand hugely outstrip supply in many of London’s more desirable neighbourhoods, as has the increased number of properties being bought as buy-to-let investments.
This is because the London property investment markets has been a source of promising returns too. While capital values have risen, so have rents which continue to rise at around twice the rate of rents outside the capital as, again, demand for rental properties in London outstrips supply in many areas.
To find out more about property in the Capital contact our team of estate agents in London