London continues to defy UK trend

London continues to defy UK trend

It has been reported here that the London property market has remained strong despite the wider stagnation across the country, partly because of the attractions it holds for wealthy international buyers. A new report in Realty & Investments adds to this picture, revealing that there are five buyers for every one property available within the capital.

According to R&I, London prices rose by 6.2 per cent from December 2009 to December 2010, with prices in some areas jumping as much as 10 per cent. These figures are in contrast to those for the UK as a whole. With this continued growth, the average price for a house in the capital is reported to be £342,325, compared to £163,814 elsewhere. Property experts say that much of this is due to interest from overseas buyers and the image London has as a “prestigious and safe place” to live and work, the publication says.

While this buying trend continues, there is also strong rental demand as deposit requirements remain high, says R&I. However, conditions in the buy-to-let mortgage market seem to be improving, even as the rest of the mortgage market remain tight. The article says that figures from the Council of Mortgage Lenders show an increase of 7 per cent in the value of buy-to-let mortgages approved in the fourth quarter of last year.

Factors contributing to the robust demand for rented housing in the capital include the demand from international executives working there, and the high prices which mean people must spend more time renting while they save for a deposit, Realty & Investments reports.


Write a comment

On Key

Related Posts

co2 emissions

Reducing CO2 Emissions as a Real Estate Agent

As a real estate agent, you play a critical role in promoting sustainable practices and reducing CO2 emissions. The real estate industry is responsible for a significant amount of greenhouse gas emissions.

3d scanning

Unlocking the Potential of 3D Scanning

Hey, tech enthusiasts! Have you heard about the incredible advancements in 3D scanning technology? It’s transforming various industries by allowing us to create accurate, detailed, and digital representations of real-world objects and environments. In this blog post, we’ll explore some of the best use cases for 3D scanning, so get ready to be amazed!


10 Proven Marketing Techniques Every Realtor Should Know!

To succeed in the competitive real estate market, realtors must implement effective marketing techniques that showcase their expertise and the properties they represent. Here are some of the best marketing strategies for real estate agents:

Newsletter Sign Up

Get property photography guides, property news and insights straight to your inbox!