As regular readers will know, we firmly believe that international investors’ understandable focus on high-end new developments continues to highlight the relative value in London’s existing housing stock. While foreign investors push prices up in off-plan and newly-built property, potential owner-occupiers could do worse than to start their search in alternative markets. This view is further supported by industry figures showing apartment sales in a number of PCL boroughs up 32% for the year-to-date, with house sales falling 21% at the same time.
From a supply perspective, as long as new developments continue to trickle through at the present rate, demand will fail to be met across the majority of London and particularly in the sub-£2m bracket. Complex, cumbersome planning regulations remain a significant barrier in their current state, and ultimately inhibit an increase in supply at the level and rate required.
Elsewhere, the growth in our Managed Sale service reflects not just the strength of our reputation, but also the simple but powerful truth that managing a sale remotely is not just stressful, but also difficult and time-consuming. We continue to offer exceptional expertise across all major property services, boasting a broad and detailed knowledge-base that consistently informs the advice we give our clients.