The London Barometer April 2015
Friday, April 17, 2015 by George Franks and Virginia Skilbeck
“It appears that buyers and sellers are getting bored of political uncertainty and this is reflected in the consistent flow of properties coming to the market. Perhaps surprisingly the number of offers being agreed is consistent with what we’d usually expect at this time of the year.
“As we approach the anniversary of the start of the London property market slowdown many homeowners are taking the plunge and making the decision to move despite the election being around the corner.
“However our recently released Q1 Emerging Prime Index shows that one of the main drivers of this is the lower stamp duty which is freshening up the London property market.”
George Franks, Sales Director
April 2015 / Lettings
“The rental market in emerging prime continues to outperform prime central areas with rents up by as much as 30 - 40% since the peak in 2007, compared with the flatline in PCL.
“Increasing demand in emerging prime has resulted in a distinct shortage of stock in some of these areas indicating that nominal rents are set to increase further. This quarter’s Emerging Prime Index confirms that emerging prime has become the sweet spot of the professional private rental sector with attractive yields as high as 5%, whereas properties in PCL achieve yields between 2.2 – 3.7%.”
Virginia Skilbeck, Lettings Director