The most sought-after housing in London – apartments with one and two bedrooms

Prices in the elite residential market of Central London are expected to moderate their growth rates. It is possible that by the end of 2014, the growth rates generally come down to “no”. After a considerable slowdown of price growth in the 3rd quarter of 2014, the trend of slower growth continued in the 4th quarter, showing a slowdown from 3.1% in Q3 to 0.5 % – 4.

These data were provided in the monitoring report of the London market estate Agency Marsh & Parsons.

The slowdown in the growth of prices for real estate class “luxury” in London is logical, because it was preceded by the growth of prices in 11, 4 %, which corresponds to the absolute equivalent of the sum of £163973.

One of the reasons of such processes on the real estate market of London is that the number of potential buyers decreased for the last three months preceding the September of 12 %, and the number of new luxury housing supplied to the market, on the contrary, increased by 13% over the same period, which led to a significant reduction of competition in the market. Customers no longer suffer from the tyranny of the sellers , which was observed in the beginning of the year due to the strong imbalance of supply and demand . Now buyers can afford to choose a property at realistic prices in a relaxed environment . As a result, at closing prices are recorded at an average of 98% from asking price. This is great progress for the market, since the beginning of the year, buyers were forced to pay to obtain ownership of the desired object.

However, the super popular are apartments in London with one and two bedrooms, in elite real estate sector and in the sector of affordable housing. The one bedroom apartments and studios are the drivers of price growth across London, showing growth in prices over the year – 19%.

Next year the braking pressure on the London property market will certainly have an uncertainty associated with the introduction of a “mansion tax”. Especially, this impact will be felt in the sector of expensive real estate , expensive 2 million. meanwhile, property prices in London today has reached a level where the cost of housing of any family of 3 millions.

It should be noted that there are still areas of London where prices at the elite real estate continues to grow very strongly. Areas outside Central London, which turned many investors.

So, three districts of Brook Green, Clapham and Balham saw the growing prices for the year at 22% , 20% and 17 % respectively.

® Maxim Savitsky 25. 10. 2014

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