The growing cost areas of London become peripheral areas

The peripheral areas of Central London – Shoreditch, Kings Cross, Battersea and Shepherds Bush can become a new driver of price growth in the London luxury property in 2016. If the median forecast for 2016 for of Prime London property – price growth at 3%, then these areas are likely to outperform the average.

This statement is based on the assertion that property in London range from £1 million to £2 million frequent in Central London with garden, good schools nearby and good transport links around, are much in demand from London families and creates the phenomenon of market competition.

Another stimulating factor in the first quarter of 2016 for the market of elite real estate of London will be the introduction in April 2015, an additional three per cent Stamp duty for investors. Investors will try to make a deal now, without any further attachment, which once again testifies to the fact that the market of Prime London property will remain attractive in the long term.

In 2016, according to forecasts, will decrease the number of investors in UK property from Asian, Asian and Russian investors. This will be reflected on the customer’s demand in London. The main buyers of luxury housing in the peripheral areas of London will be the British themselves. Instead of having to buy apartment in super-expensive areas of Chelsea and Belgravia, buyers make a choice in favor of the districts of Shoreditch, Kings Cross, Battersea and Shepherds Bush, with buying more square feet for less money. Especially popular have traditionally been the buyers of those areas of London where there will be launched a new high speed rail station Crossrail, which will open to passengers in 2018 and will significantly reduce travel time for residents of the peripheral areas.

® Maxim Savitsky 22.12.2015 g.

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