Apartment with three bedrooms in London reaches £700 per day

The value of Prime residential property in London with three bedrooms increased by more than £700 pounds for every day last year, this is a new study of the real estate market. This increase cost the equivalent of quarter of a million pounds a year.

This means that the three-bedroom apartments increased in price by about 19% in 2013, and the average price of elite apartments with three bedrooms is now at £1670399 . Overall, luxury property in London has risen in price only for the last quarter by 4.3% and 12.9% over the last year.

If the increase in the value of real estate will continue at the same rate, by 2016 the average of the objects of elite real estate in London will cost £2 million in addition, the data of the last quarter showed that the high demand for luxury property in London is now provided not only by demand from overseas buyers. The British themselves with the pleasure of buying luxury real estate. For the last quarter recorded a serious decline in the share of foreign buyers in this sector. The proportion of British made up 78% of all buyers.

If you compare the prices of luxury properties in London over the year with prices a year ago, prices rose 20% while there was a 25% drop in new supply of luxury homes on the market. Therefore, the price that just a few months ago seemed to be fantastic, now has become the norm.

Areas of London where real estate rose in price most quickly, this is Balham, Clapham and Brook Green. Over the past year, the average price of property in these areas grew by 26%, 25% and 17%, respectively. The first two areas – Balham and Clapham, is especially fond of young families in London and they are actively moved to these areas.

The popularity of these areas was also more affordable prices. Prices for luxury housing in all other areas of Central London have already reached dizzying heights and almost two times higher than in the Balham and Clapham.

In the districts of Kensington and Chelsea which are usually the mainstay of the overseas buyers, the proportion of foreign buyers fell to a two-year low, about 21 %, which is considerably less than in previous years, when the share of foreign buyers accounted for about 40%.

These trends clearly demonstrate that the real estate market in the UK is supported not only by investors from abroad, he has a great inner potential. The reality is that the luxury properties in London continues to be a sound investment for all, akin to a global reserve currency.

In addition, changes in the pension system, which announced by the government on the London property market can come in and investments of the pension funds, which traditionally are looking for a reliable rental yield and long term capital growth.

® Helen Entree. 29.04.2014 g.

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