hy now is the time to buy in London
Savvy investors are turning to London property, lured by a weakened Sterling and an increased bargaining power. The capital’s prime residential property sector has always been attractive to investors during times of increased demand for haven assets – and now is no different.
The fall in the pound against the US dollar currency earlier this year (offering up to 25% discounts for
Further, Savills’ research for Q4 in 2018 showed that a house in Central London would have had a 34% discount since 2014 if the buyer was using a dollar-pegged currency. Several contributing factors, including the international political turmoil, equity volatility, the deteriorating relationship between China and the US and the stagnation of the automotive markets make investors turn to prime property as an attractive alternative.
Buying activity and currency trends
According to a recent report by Knight Frank, there is a large number of buyers who have been watching the market for some time and waiting for the right opportunity according to currency values. If they can achieve what they perceive to be a fair price, they feel they are protected to some extent from anything that may happen in relation to Brexit. The fact that the prime markets of central London have fallen in price by an average of 19.4% since the Q2 2014 peak will serve as a boost to buyers looking to obtain a fair deal i(Savills, Market in Minutes Q4 2018).
The total number of prospective buyers in the £10 million-plus price bracket was 7% higher in the third quarter of 2018 compared to the same period in 2017. Meanwhile, the total number of new prospective buyers who registered in the same three-month period was 17% higher than in Q3 2017 and the total number of viewings was 29% higher. (Knight Frank’s Super Prime Market Insight Report).
Data by LonRes shows that the number of properties going under offer in the second half of last year was 6% higher than in the same period in 2017.
London’s big draws
Among the reasons why investors are snapping up luxury property in London is the high demand for
Knight Frank estimates that a total of £2 billion each year is invested in London’s prime housing market by parents looking to secure accommodation while their children are at school in the capital.
Enter Pinks Mews
Tucked away in a narrow alley, Pinks Mews is a gated development in the heart of Holborn, close to a number of famous universities including leading names like LSE,
With the world becoming more global than ever before, buyers are looking for more space and amenities. The high-end development market has been meeting this need for some time now, with hotel style services widely available to residents.
Many residents at these types of developments have taken advantage of Britain’s weakened currency, achieving value for money on price per square foot as well as obtaining a central London asset that is likely to go the distance due to location and quality. For those who can afford it, buying in London now makes a lot of sense!
Arrange a viewing at Pinks Mews
There are 22 properties at Pinks Mews still available to buy. If you’d like to arrange a viewing, get in touch with our agents at Knight Frank or CBRE.
CBRE – James Burrows, +44 (0)20 7420 3050, firstname.lastname@example.org
Knight Frank – Nigel Fleming, +44 (0)20 3826 0673, email@example.com