Prime Central London recovery strong, says agent

 

A leading estate agent dealing with prime Central London properties has stated that they expect the market to see a rise in sales in the final quarter of 2016 as post-Brexit worries are shrugged off, according to OPP Today.

W.A.Ellis, part of the JLL Group and one of the leading agents at the top of London’s prime market, illustrated their point with the figure of £35 million of offers having been made on property in Knightsbridge in one September week alone. At the same time, the firm reported increased activity in the equally-lucrative prime lettings market in London as new and returning international students came back to the city.

Director, Richard Barber, commented:

Although it is too early to say that the uncertainty around Brexit is behind us, there are positive signs of increased activity in the Prime Central London (PCL) property market.

“We have seen a marked increase in both enquiries and viewing activity [in September], and have received over £35,000,000 worth of offers in Knightsbridge alone – all of which are within 5% of the asking price.

“It is clear that there is strong demand for high quality properties within PCL and that those attracting the most interest have been competitively priced, with motivated vendors prepared to sell in line with the current market.

“The outlook is positive; as consumer confidence grows, we are likely to see an increase in transactional volumes in the final quarter of 2016.”

Lucy Morton, Director and Head of Residential Agency at W.A.Ellis and JLL, says, “Nearly 50% of the new tenancies agreed have come from international students.” This has also reduced the oversupply of letting stock in the market, which should also stabilise rents.

https://www.buyassociation.co.uk/2016/04/30/london-in-top-10-for-most-expensive-rental-cities-in-the-world/

Meanwhile, online estate agent eMoov has released data suggesting London commuters would be better off buying property outside the capital and flying to London to work. Using the average house prices in the cities surveyed, the research suggested that buying in Glasgow and flying to London on a weekly basis could save up to £11,845 per year.

eMoov compared the average house price between the capital and other short haul flight options around the UK with a direct service into London. They then worked out the total cost of a weekly commute, flying on the Monday morning and returning on the Friday evening, plus four nights’ accommodation when booked six months in advance.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Prime Central London recovery strong, says agent

Prime Central London recovery strong, says agent

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.