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Is London Property Market About To Topple?

My views on London property, cheap money and low interest rates – as well as an influx of foreign cash – have created a massive bubble. Valuation ratios such as prices to incomes are now at historic highs. Last week’s data from land registry and the land registry suggests that London property prices continue to rise higher and higher. Nationwide records that house prices in London rose by 3.3% in July. The only problem with the land registry`s data is that they measure the prices at the time the sales goes through and is recorded. Given the amount of time that passes before the house is signed for, it makes the land registry`s data several months out of date. Data from nationwide also suggests that house prices are still on the rise.

London’s Square Mile

Residential property prices in London’s square mile have increased by a record 71% according to my resources. London is being filled with foreign investors snatching the property prices; obviously they can see the trend and believe that it’s a good investment.

Anna White a property correspondent had this to say “The cost of an average flat in the financial district has risen to £739,546 today from £432,060 in 2008, thanks to residential towers springing up in between the financial institutions and office blocks of the City of London. As a result, the costs of apartments in the City are almost on par with London’s West End, traditionally a more popular place to reside.”

Apartments in the west end part of London have risen from 700 thousand pounds in 2008 to 1.4 million to date. If the trend continues to perform like this then it’s estimated that house prices in the west end will reach a staggering 2.1 million by the year 2020.

For investors or home buyers looking to buy property in London it seems that the docklands market provides the lowest entry prices. With the average price being £338,555 six years ago to £397,135 to this date.

Due to a lack of space and many listed buildings there are only 2,428 new homes in the pipeline in the West End and 1,391 in the City, which will prop up prices, the study found.

London’s property boom definitely not levelling off

A lot of property critics have said that London’s boom is only temporary and house prices will surely level off. With the recent figures which I have mentioned above proves that these theories are incorrect and shows us that house prices are indefinitely on the rise still. A good article about what London will be like in the future. It`s a must read and explains the authors thoughts on the current housing market boom, and what he predicts the capital will be like in the future.

If the London property market trend is something that would like to keep a close eye on over the coming months then you can keep up to date by following this blog trends. The author writes about the current property market situation and also predicts what he thinks the future will be like.

Author Bio: Paul Gray is an experienced property author, he writes about current trends and tries to keep his readers up to date on the latest property information.


London Families Moving Away From Capital

Savills, the UK based estate agent says that the increasingly relentless price growth of homes in London has been selling, and that many families are deciding to sell up and move away from the capital into the home counties.

Jeremy Helsby, Savills’ chief executive, stated that rising numbers of people are cashing in on the greatly inflated prices of their London homes and moving out of the capital into places such as Kent, Surrey and even Cambridge and Oxford. “People are selling up in London, they’ve had a very strong rise over the last two to three years, especially families with kids who decide they can’t get the right schools and would like more space.”

Exchanges of contracts outside of London are up around 20 per cent, helping Savills announce a 15 per cent rise in pre-tax profits up to £24.7 million for the first six months of the year. Savills increased it’s half year dividend by 7 per cent up to 3.75p a share. The estate agents which is based in the affluent borough of Mayfair, conducted 100 per cent more sales outside of London than within, although in terms of revenue its business is still skewed towards the capital, where prices are still sitting much higher than the national average.

Helsby, who received a massive £2.6m salary including bonuses in 2013, says he also observed a shift within the nation’s capital, with significantly more people moving from upmarket West London to the newly revitalised East, which has been rejuvenated by the Olympic Park and it’s legacy projects. Savills now has hopes of opening another office in East London to cope with the newly located demand, whilst transport links across London are set to be improved with the planned opening of new high speed railway system infrastructure ‘Crossrail’ in 2018.

Growth in price of homes worth over £5 million in central London has begun to slow over the past 18 months whilst the rest of the country is still recording what is known as “recovery growth”.

The estate agent projected 3 per cent price growth at the top end of the luxury sector in London at the beginning of the year, but so far they have only seen rises of 2.5 per cent and prices are expected to stay flat for the remainder of the year. Helsby explained that the remainder of the UK is on track for 4.5 per cent growth. Due to the slowing of the ultra-luxury property market, the firm is focusing on what he (Helsby) referred to as a “mid-market brand,” offloading homes worth between one and two million pounds in areas such as Battersea, Victoria and East Sheen in South West London.

Lenders such as Halifax and Nationwide are of the opinion that house prices across Britain are still growing fast, at an annual rate of around 10 per cent, although there do appear to be some signs of a slowdown in the market.

Author Bio: Bradley Shore is an experienced property market investors. He writes for a number of clients, such as Innovo Property Investment and has been writing detailed articles for a number of years. Check out more from Brad at Investor Academy.