The uncertainty in the market for the sale of elite real estate of London pushed rental prices up.

The real estate market in Central London continued recovering in August 2014 amid rising risks in the market of purchase and sale of real estate in Central London in connection with the forthcoming in may of next year elections. Many potential buyers without risking to step into a deal to become tenants, so the demand in the rental market of real estate is increasing.

Not to say that this significant reversal for the market, but certainly, some buyers of luxury homes Central London chose a wait and see attitude for the next 12 months, which slowed down the growth of prices in the sales market. This conclusion was made in his study of the influential international real estate Agency Knight Frank.

For the same reason, sellers are increasingly considering becoming Landlords, but in the short term, not more than 12 months.

The uncertainty of the real estate market of the London lends shimmering on the horizon, changes in tax legislation related to raising the tax rates on the super-expensive real estate. Another reason for the uncertainty the introduction of rate increases by the Bank of England.

According to the report, those lease contracts that were signed in August 2014 for 12 months, will come to fruition in August 2015, when the market is going to be in more stable condition. After the election it will take three months, will be certainty in tax rates, the Bank of England decide on interest rates and, most likely, the market for the sale of real estate in Central London will flood the investors ‘ funds.

Now on the rise the rental market of elite real estate of London. Rental prices of real estate grew for the sixth consecutive month and growth in rental prices by 0.5 % in August pushed the index of prices to the highest level in the last three years. Also increases the yield from the rental of residential real estate for rent. Over the past two months, the average rental income rose by 2.8%.

There are other fundamental reasons for the strengthening of the rental market in London. London is gaining momentum as the dominant centre of high-tech business in Europe, which provided large inflow of the workforce in London and the demand for rental housing.

The number of employees in the telecommunications, media and technology sector among the clients of Knight Frank since the beginning of the year to April 2014 rose by 11%. Thus, these professionals take the third place in the proportion of customers of tenants of elite housing in London after the financial sector, which share of 29% and employees of the legal sector, which accounts for 13%. Followed by employees of the oil and gas industry with a share of 6% and employees in the sphere of trade , also with a share of 6% .

® Helen Antre 09.09.2014 g.

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