Brexit and stamp duty changes took their toll on the prime London property market in 2017, but in the City of Westminster and other central London boroughs property sales increased in the third quarter of last year.
A report from LSL Acadata paints a more positive picture of the prime London market, with sales increasing following a sales market slowdown.
The report states that sales in three of London’s boroughs climbed more than 20% in the third quarter of 2017. These boroughs were the City of Westminster, Kensington and Chelsea, and Camden.
With more movement at the top end of the market, this is filtering down and helping to kickstart movement elsewhere in the market.
However, a survey from the Royal Institution of Chartered Surveyors (RICS) indicated that house price growth would likely slow in 2018, as uncertainty surrounding Brexit continues.
But London still retains its safe haven status, with buyers and investors from overseas continuing to flock to prime central London property.
You can find more on this story via the link below:
