“The performance of the UK property market remains divided in two between London and South East and the rest of the UK” CHARTWELL UK
The property market in London is fundamentally linked to the financial and business services sector
London property prices have outperformed the wider mainstream market in recent years buoyed by continued demand from British and international buyers, despite the economic turmoil created by the financial crisis. However, while the Olympics turned out to be a complete success for London, they had the effect of keeping some prospective buyers away from the market during late July and August.
Demand for housing in London is still high with luxury hotspots and prices on top:
- City of London and eastern fringe: £ 800-£1000 / sq ft
- Hammersmith: £ 700 / sq ft
- Midtown: £ 1500 / sq ft
- White city/Westfield: £ 900 / sq ft
- Victoria: £ 1350 / sq ft
The property market in London is fundamentally linked to the financial and business services sector, with many high-net-worth individuals from these sectors choosing to buy high-end property in the capital.
International buyers are relatively rare outside of London where almost 50% of prime London properties in the £ 1m+ market go to international buyers.
Where do international prime property buyers come from?
