Activity in the market of Prime London property has increased by 20%

22.1% increase in the number of potential buyers of real estate in Central London since the referendum compared to the same period of 2015.

The amount of real estate which is in the status “under offer” increased by 19% since Brexit and the number of views of luxury property in London increased by 20.8% and the number of live views of apartments rose by 49%. These are the data presented by the leader of the market of elite real estate Knight Frank.

The sector of real estate of London for more than a year experiencing a gradual decline in prices, caused by a significant increase in the tax burden, deliberately introduced by the United Kingdom government to curb demand in the sector. Since the historic referendum, the effect of the fall in prices increased with depreciation of the pound sterling against major currencies, which will undoubtedly impact on demand.

Representatives of agencies of real estate of great Britain have expressed cautious optimism that activity in the luxury sector will grow in the coming months.

The decrease in prices of luxury property in London by 1.8% looks very different if we consider the figures in the context of different areas of Central London. So, in the most expensive area of London Chelsea falling prices in pounds amounted to 9.7% for the year, and in Mayfair, the prices even increased by 0.7%. A slight drop in prices was observed also in the areas of Maryleborne by 0.9% and in Belgravia – by 0.8%. Prices in Knightsbridge seem to have already reached its bottom and is now closer to buyers ‘ expectations, which suggests that in the future should not expect a strong decline.

® Alice Morgan. 03.09.2016 G.

Tax on capital gains in the UK

Taxation legal. individuals in the UK

Best offer

What “Stamp duty”

Land and types of ownership of property UK

The process of buying real estate

Why we recommend to buy new apartments and houses

Brexit: the naked triumph of the ignorant or the collapse of democracy?

In the UK, reduced Stamp duty

Why buyers from Russia should not fear sanctions

Price indices for UK property

LEAVE APPLICATION FOR SELECTION OF REAL ESTATE