In the market of Prime London property prices have stabilized

The real estate market of Central London is in a state of stabilization of prices after a rapid growth in the previous two years. Finally, in the market there was a situation when the number of offerings on the market began to increase and the problem of imbalance of supply and demand is not as acute. The number of transactions in the market, which is a barometer of confidence, fell over the year by 17%. If in may 2013 of such transactions on the London real estate market was 932, in may 2014 the number of trades amounted to 774. It should also be noted that about 25% of housing in the London real estate market free-for-sale were reduced in price. These processes reflect that the excessive initial optimism has now changed to a sense of realism. For the year declined and the average price of real estate per 1 square foot. If in the first quarter of 2013 the average price per 1 square foot was £1876, in the first quarter of 2014 it amounted to £1858, corresponding to the reduction in 1%.

In the rental market of elite real estate demand exceeds supply in some areas. However, the two bedroom apartments at a price below £1000 in a week in great demand and always in short supply. Also very movable market of family houses and cottages. In January 2014 the demand for rental houses has increased by 12% compared to January 2013. Now, when to start the new academic year is not much time, we also expect the excess of demand over supply in the family home.

Was recently put on sale a new cottage 5 bedrooms in Kensington and Chelsea and they have already received a lot of inquiries from families who plan to settle in London this summer. Such proposals go before time to go on the open market, which clearly indicates that the demand for houses is very high and the offer still lags far behind demand in this sector of the market.

More than competently acted by the students in the real estate market. If in previous years the peak of activity the students had in August – September, but now the students are in the summer months, book yourself housing for the academic year.

The demand for luxury properties is also observed on the part of corporate clients. A company rent housing to their employees in the spring, not waiting for the summer rush.

® Maxim Savitsky. 06.06.2014 g.

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