Business Immo, the real estate website
Market in Minutes

Prime London : Residential Markets - april 2017

Published on

A research produced by

Prime London : Residential Markets - april 2017

The rate of price falls across the prime London residential markets notably slowed in the first three months of this year. Could this be an early indication of values bottoming out?

Prices across all of prime London fell by an average of -0.3% in the first three months of the year, compared to -2.2% in the final quarter of 2016. This leaves values -6.1% below their 2014 peak.

Whilst stamp duty changes have certainly been a contributor to these price falls, there are other factors also affecting the prime London housing markets.

Central London markets have alsobeen affected by international buyers’increased exposure to capital gains tax and inheritance tax, leading to more reluctance in taking advantage of the weaker sterling.

The uncertainty surrounding the UK’s vote to leave the EU has exacerbated the slow down resulting from tax changes. This has largely been driven by the unknown future, as opposed to any recognised weakening, of London’s economy.

Source : Savills

This research is available only to BI or BIE subscribers

Please log in, or contact us to find out how to subscribe