The London real estate market is growing in spite of Brexit and the increased stamp duty

The market prices of the London property restored after a fall, caused by changes in the rates of stamp duty.

Prices on the primary real estate market of the capital of the United Kingdom grew by 5.6% compared to the period prior to the introduction of additional stamp duty for investors in the amount of 3%. Prices are now 15.6% higher than three years ago. The London housing market again ahead of England and Wales in price growth at 7.1% for three years.

Real estate in the premium sector of London, which suffered more from the introduction of the Stamp duty, also began to recover, showing a price increase of 7% over the past 12 months. However, prices in this sector is still 3.3% lower than three years ago, when the elite real estate sector of London was at its peak in 2014.

A detailed analysis of the market shows that the main housing market, which is approximately 60% share in value terms and the premium real estate sector , accounting for 40% increases over the last 12 months.

The most affected sector of the London property is definitely the sector “buy to let” in respect of which was heightened stamp duty at the rate of 3%. But these changes were absorbed by the market and global investors, both foreign and local, again see the prospect of investment in the residential market of real estate of London.

Not too worried investors and the uncertainty associated with Brexit.

If a year ago, yet the separation of the United Kingdom from the European Union was one of the most important factors that influence investor sentiment, but now fewer people expressed concern about this and in General investors are positive about the market.

® Alice Morgan. 01.11.2017 G.

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