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Rising Number Of Buyers

Despite uncertainty surrounding Brexit, the weak pound is tempting international buyers back to the UK capital. In fact the numbers for buyers in prime central London are the highest they have been for 6 years.

There was a 3.4% rise in February for the average asking price of a London home. This was because of a seasonal uplift of new sellers. As we said above the weak pound was also very attractive to investors.

People expect to see a monthly price rise at this time of the year. This is because the spring selling season is near and people begin to put their homes on the market.

Another thing that helped raise the London average to £614,000 was an increased presence of more expensive homes on the market. Inner London asking prices rose 5% during the month.

Something to note is that Zone 1 in central London was the only travel zone to record an annual price rise. Zones 2 to 6 fell in comparison to this time last year.

One of the biggest asking price rises was in Camden, where it was 3.9% up to £1.01million. The other was Westminster where a 5.2% increase brought it to £1.48million.

The property market of prime central London is driven by boroughs in the centre of the capital like Camden and Westminster. International buyers strongly affect this and make up a high proportion of prime property buyers, higher than they have in 6 years.

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Finefair would love to assist you with your property needs. Whether this is one house or a large portfolio, don’t hesitate to reach out to us. Our work covers numerous areas and locations across London, including being the lettings agent Camden can rely on. You can call us and we will tell you more about what we do so that you can start benefiting.