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2016 has been a roller coaster year for us all. In the first quarter, the cooling of the Chinese economy had its knock-on effect on a global scale.
The EU referendum campaign – which seemed to go on and on – created a sense of suspended animation across the UK between April and June.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]We all remember the sense of shock on the morning after the Brexit vote, when stunned paralysis gripped many of us, as our plans for the future suddenly seemed under threat. Add Donald J. Trump to this already toxic mix and is it any wonder we are entering the festive season this year thoroughly confused and unsure whether we are coming or going?
I can offer you one constant in life that may help to calm your nerves and unfurrow your knotted brow. It is the constant Law of Supply and Demand. When the demand for a product or service is in balance with the available supply, its price remains steady. If the demand is a little greater than the available supply, the price will rise gently. This is where and when the ‘Pimlico feel-good factor’ kicks in.
Residential property in this part of SW1 represents the best value for money anywhere in Central London. Property prices in Pimlico are modest by ‘West End’ standards, and therefore within easier reach for more people.
Those whose New Year’s resolutions will include getting a toe-hold on the Central London property ladder in 2017, will be out and about in the first quarter, giving a ‘demand’ boost to the local market. This effect may not be seen elsewhere, either nationally or in nearby London boroughs. So a ray of sunshine for us locally, as an otherwise uncertain new year approaches. Rejoice!
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