The real estate market of London is one of the most stable in the world

On the real estate market in Central London, after the crazy prices for several years, there has been some evidence of uncertainty. However, the prospects of the real estate sector is very optimistic.

Recent reports, including the report published by the company show that the second quarter of 2014 number of real estate transactions cheaper than £2 million Dropped by 17.2% compared to the same period last year.

Fun fact, but best of all feels the real estate market in the range of more expensive than £5 million, where the number of transactions increased by 18.6%. The market is in the range of £2 million to £5 million feels pretty stable – there has been a slight fall of 0.5 % , which is likely, can be considered a fluctuation.

The market decline in the sector up to £2 million was a surprise to market participants. Meanwhile, this kind of phenomenon on the market always have a positive impact on prices, forcing sellers to be more flexible.

The most popular districts in the second quarter of 2014 was captured a market growth of 9.1% . The worst proved to areas were reduced by 26, 3 %.

The rental market residential real estate in Central London feels great. 2862 agreements were concluded in the second quarter of 2014 and resulting in good demand, rental prices rose by 3.6%, reaching average values of £1500 a week.

Outside of London the rental market of elite housing is growing even faster – the number of transactions increased by 61% . In case of lack of offers in the market and the increase in demand is expected to further rise in prices in the real estate sector.

Generally, the real estate market of London is quite difficult to be predicted, because it is rather diverse, represented by different areas and price ranges.

Amid improving economic situation in the UK and the General instability in other regions of the globe, it can be assumed that prices will continue to rise at the same pace in the next few years as they grow in 2014. The only thing that affects the growth of prices – the upcoming elections. Some uncertainty the market attaches to the prospect of a tax on mansions.

The London real estate market is becoming more and more popular over the last 30 years. Therefore, there is no reason for pessimism, caused by only a small hitch – the upcoming elections.

® Maxim Savitsky 12. 08. 2014

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