Have you been thinking about investing in a London property, but hesitating to take the plunge? Many potential buyers are waiting for a clear outcome to Brexit or the results of the local elections in May. However, property insiders are saying that now is the ideal time to make a purchasing decision. Here’s why you should invest in London property sooner rather than later.
Demand for London Property is High
There has been an increase in the number of prospective buyers registering in prime London, rising by 11.3% in the past year. The number of offers made on prime London properties also rose, with a 14.3% increase.
In March, the ratio of new buyers to new listings in the city rose to an impressive 9:1. New listings are expected to rise in the coming months, leading to more equilibrium between supply and demand, as well as price stability.
Positive Outlook for Prime Central London
Industry experts have a favourable outlook for property investment in the capital. Uma Rajah, chief executive of investment fund CapitalRise, predicts: "We believe that prime central London will show the highest UK growth over the next three years.” Rajah noted the resilience of key London neighbourhoods like Chelsea, Belgravia and Mayfair, which remain attractive to local and international investors.
Regeneration in the City
The city is seeing some heavy investments in regeneration projects, renovations and transport links across London.
Most notably, the first stage of redeveloping the iconic Battersea Power Station has just been completed. The development includes several restaurants and shops, and accommodates more than 1,000 new residents.
Marylebone High Street has undergone a revival, and there are plans for Kings Road in Chelsea to follow suit.
Conditions are favourable for buyers right now, and the market is expected to return to growth with steadily rising prices, making London property a sturdy investment for the future. Speak to an experienced Douglas & Gordon estate agent to guide you through every stage of your London property purchase.